Japan’s benchmark indices plummeted on Friday 2nd August 2024, with most Asia-Pacific markets lower after a sell-off on Wall Street created recession worries.
The Nikkei 225 index plunged around 5.80% to close at 35909, its most significant fall since March 2020, dipping below the 36000 for the first time since January 2024.
The Nikkei recently record a high of 42000
Nikkei 225 one-year chart 2nd August 2024
Nikkei 225 one day chart 2nd August 2024
The broader Topix index experienced an even steeper decline of 6.14%, marking its worst performance in eight years, ending the day at 2537.
Daiwa Securities emerged as the biggest loser on the Nikkei index with an 18.85% erosion of its market cap.
Other prominent stocks also suffered losses; Softbank Group’s shares dropped over 8%, while trading giant Mitsui recorded a decline of more than 10%.