Nikkei dives to 2-month low on emerging-market worries

Ends 2.5% down as yen soars

Japan's Nikkei average tumbled to a two-month low on Monday as the yen soared and global equities dropped on concerns about a selloff in emerging-market assets, dragging down futures and index-heavyweight stocks.

The Nikkei ended 2.5% lower at 15,005.73, the lowest closing level since November 14. It fell as much as 3% earlier.

The Topix fell 2.8% to 1,229.23, with all of its 33 subsectors in negative territory. Volume was high, with 3.265 billion shares changing hands, the highest since January 10.

The JPX-Nikkei Index 400, a recently introduced gauge comprised of firms with high return on equity and strong corporate governance, dropped 2.8% to 11,103.87.