Nikkei tanks deeper into bear terrain

Japan share market ended deeper into bear market territory on Thursday, 21 January 2016, amid risk aversion selloff as sliding oil prices highlight fears over the prospects for global economic growth. Meanwhile, appreciation of yen against the basket of major currencies also weighed down investors sentiments. All 33 TOPIX sectors fell into negative terrain, with shares of Financial Business, Real Estate, Real Estate, Foods, Electric Power & Gas, and Banks issues being major losers. The 225-issue Nikkei Stock Average ended 398.93 points, or 2.43%, down at 16017.26. The benchmark Nikkei 225 index has tumbled 23.2% from the cycle peak touched in 24 June 2015. A decline of 20% or more is considered a bear market in technical terms. The Nikkei 225 last entered a bear market in June 2013. The Topix index of all Tokyo Stock Exchange First Section issues slumped 37.48 points, or 2.8%, to 1301.49, taking its loss since a high on 10 August 2015 to ~24%.

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