adminTokyo stocks dropped more than 2.8 percent in early trade last Friday following a plunge in US shares on revived worries about the coronavirus and concerns about overheating equity prices.
The benchmark Nikkei dropped 2.84 percent or 637.19 points to 21 835.72 in early trade, while the broader Topix index was down 2.85 percent or 45.35 points at 1 543.57.
“Investors in the Japanese market were discouraged by a rout in US shares, with trade starting with sharp drops,” senior market analyst Toshiyuki Kanayama of Monex said in a commentary.
In Australia, the ASX also sank at the open, falling 2.87 percent or 170.90 points to 5 789.70. Wall Street stocks plunged Thursday with the Dow Jones Industrial Average plummeting 6.9 percent or more than 1 850 points to 25 128.17. After weeks of focusing on the positive side of the reopening of economies, investors shifted attention to rising coronavirus cases in some states that have reopened, including the US states of Texas and Arizona. — AFP.
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