Tokyo Stocks Plummet on U.S. Economic Slowdown Fears
(MENAFN) Tokyo’s stock market extended losses on Monday, mirroring Wall Street’s sharp declines fueled by growing fears of a slowing U.S. economy after weaker-than-expected job data sparked widespread selling.
The Nikkei 225 index closed at 40,290.70, tumbling 508.90 points—or 1.25 percent—compared to the previous session.
Selling pressure was widespread, with semiconductor firms like Advantest among the hardest hit. Financial sector shares, including banks and insurers, also saw steep drops amid falling domestic long-term interest rates.
A stronger yen against the U.S. dollar further pressured export-driven companies.
At one stage, the Nikkei plummeted more than 900 points, briefly slipping below the critical 40,000 threshold. However, retail investors stepped in to buy the dip, helping the market claw back some losses in afternoon trading.
Meanwhile, the broader Topix index declined for the first time in four sessions, sliding 32.45 points—or 1.10 percent—to finish at 2,916.20.
On the Tokyo Prime Market, declining stocks outweighed advancing ones, with 1,096 losers, 473 gainers, and 54 unchanged.
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