Nikkei stumbles in sea of red

The Japanese share market stumbled on Tuesday, 1 September 2015, as broad-based sell-off was sparked by a weak lead from Wall Street overnight and exacerbated by Chinese manufacturing data, which fell to its lowest reading in three years. Selloff momentum worsened by yen appreciation to 120-level against greenback and by capital expenditures data that showed slowing investment in plants and equipment by Japanese companies. All 33 TSE sectors ended down, with shares of pharmaceutical, precision instruments, financials, utilities, tyre makers, consumer goods, and nonferrous metal issues being major drag on the market. The Nikkei Stock Average tumbled 724.79 points, or 3.84%, to end at 18165.69 points, following a 1.3% loss on Monday. The broader Topix index ended down 3.83%, or 58.94 points, to 1478.11 at the close in Tokyo.

Powered by Capital Market - Live News