Nikkei dives 7.3 percent, China worries spark worst rout in two years

TOKYO Thu May 23, 2013 12:47pm IST

A visitor looks at the stock quotation board at the Tokyo Stock Exchange in Tokyo May 20, 2013. REUTERS/Toru Hanai

A visitor looks at the stock quotation board at the Tokyo Stock Exchange in Tokyo May 20, 2013.

Credit: Reuters/Toru Hanai

Related Topics

TOKYO (Reuters) - 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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

School Shooting

School Shooting

Two killed, four wounded in Washington state school shooting.  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage