Tokyo stocks falls more than 2.8pc after Wall Street rout | Malay Mail

The benchmark Nikkei dropped 2.84 per cent or 637.19 points to 21,835.72 in early trade, while the broader Topix index was down 2.85 per cent or 45.35 points at 1,543.57. — AFP pic

TOKYO, June 12 ― Tokyo stocks dropped more than 2.8 per cent in early trade today following a plunge in US shares on revived worries about the coronavirus and concerns about overheating equity prices. The benchmark Nikkei dropped 2.84 per cent or 637.19 points to 21,835.72 in early trade, while the broader Topix index was down 2.85 per cent or 45.35 points at 1,543.57.

“Investors in the Japanese market were discouraged by a rout in US shares, with trade starting with sharp drops,” senior market analyst Toshiyuki Kanayama of Monex said in a commentary.Wall Street stocks plunged yesterday with the Dow Jones Industrial Average plummeting 6.9 per cent or more than 1,850 points to 25,128.17.

After weeks of focusing on the positive side of the reopening of economies, investors shifted attention to rising coronavirus cases in some states that have reopened, including the US states of Texas and Arizona.In Tokyo, major shares were lower, with Toyota trading down 1.20 per cent at ¥6,822, Sony down 2.45 per cent at ¥7,311 and Canon off 2.53 per cent at ¥2,212. ― AFP

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