TOKYO (dpa-AFX) - The Japanese stock market is losing on Thursday following the overnight sell-off on Wall Street amid concerns about excessive stock valuations. In addition, the U.S. Federal
CANBERA (dpa-AFX) - Asian stock markets are in negative territory on Thursday following the overnight sell-off on Wall Street amid concerns about excessive stock valuations and as the Federal
Tokyo stocks dived Thursday in the wake of a U.S. market plunge.
The Nikkei average of 225 first-section issues of the Tokyo Stock Exchange gave up 437.79 points, or 1.53%, to close at 28,197.42. On Wednesday, the benchmark index climbed 89.03 points.
The Topix index of all first-section issues closed down 21.22 points, or 1.14%, at 1,838.85 after advancing 12.07 points the previous day.
The Tokyo market succumbed to hefty profit-taking pressure right after the opening bell, with the Nikkei losing more than 600 points to slip below the psychologically important threshold of 28,000 in the first few minutes.
Sell orders mounted after all three major U.S. stock indexes, including the Dow Jones industrial average, plummeted by over 2% on Wednesday, brokers said.
Japan declared a limited state of emergency in the capital, Tokyo, and three neighbouring prefectures on Thursday to stem the spread of the coronavirus, resisting calls from some medics for wider curbs due to the economic damage they would cause.
Japan declares state of emergency for Tokyo area as COVID-19 cases surge netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.