Nikkei Average Briefly Sinks over 700 Points
10:19 JST, June 17, 2022
Tokyo (Jiji Press)—The benchmark Nikkei average briefly tumbled over 700 points on the Tokyo Stock Exchange Friday morning, after U.S. and European shares plunged the previous day as a series of interest rate hike decisions by major central banks stoked fears of a possible global economic slowdown.
At 9:03 a.m., the index of 225 selected issues listed on the TSE’s Prime section was down 710.40 points, or 2.69 pct, at 25,720.80, slipping below 26,000 for the first time since May 13 on an intraday basis.
In Tokyo currency trading$, selling picked up against the yen partly due to speculation that the Bank of Japan may decide to make an adjustment to its massive monetary easing policy.
At 9 a.m., the U.S. currency stood at ¥132.40-41, down from ¥134.23-23 at 5 p.m. Thursday.
"BUSINESS" POPULAR ARTICLE
Japan resumes entry of foreign tourists
Restaurant chains think outside box to blunt hit from soaring prices
Processing power: Robot speeds production at Nagoya food manufacturer
Bread crusts, coffee beans transformed into craft beer by Japan brewing firm
Philippines to call for banana price rise in Japan
JN ACCESS RANKING
- Japan, Finland confirm unity in dealing with Russia
- Mangaka Fujiko Fujio A dies at 88
- China’s aircraft carrier drills near Japan aimed at around-the-clock attack capability
- As wheat prices soar, Japanese food industry pushes rice flour as alternative
- Fukushima lab releases images of ‘highly likely’ UFOs