TOKYO The Nikkei share average plunged 7.3 percent on Thursday, its biggest one-day percentage drop in two years after weak Chinese factory data rattled investors, prompting them to take profits from a recent rally buoyed by massive Bank of Japan stimulus measures.
The Nikkei ended 1,143.28 points lower at 14,483.98, a two-week low. It was the 11th-largest point drop on record.
The Osaka Securities Exchange briefly suspending trade in Nikkei futures in the afternoon due to steep declines.
Trading was volatile. The benchmark had climbed to a 5-1/2-year high earlier in the session.
The broader Topix index sank 6.9 percent to 1,188.34, with a record high 7.66 billion shares changing hands.
As stocks dropped sharply, investors sought safety in government bonds, with the 10-year Japanese government bond yield down 6 basis points at 0.825 percent.
The 10-year yield hit 1.00 percent in the morning session, its highest since early April last year.
(Reporting by Dominic Lau; Editing by Chris Gallagher)
Trending On Reuters
With the Nifty breaching 8,500, sentiments are again bullish. But markets have been in the 8,200-8,600 range for some time and stocks across the board do not give the required confidence except for the liquidity factor. Many frontline stocks are not participating on the upside and the core sector is in a downtrend, writes Ambareesh Baliga. Column