Tokyo: Market plunges nearly 2% in first trade of 2024
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TOKYO stocks opened sharply lower on Thursday, the first trading day of 2024, playing catch-up with falls of US shares.
The benchmark Nikkei 225 index dropped 1.93 per cent, or 646.30 points, to 33,817.87 in early trade, while the broader Topix index fell 1.24 per cent, or 29.25 points, to 2,337.14.
After closing 2023 on Friday, the Tokyo market reopened after its New Year break, during which the US market marked two straight days of falls.
“The Tokyo market should also start sharply lower as it starts the first trade of the year,” brokerage house Monex said.
The weak opening comes as Japan faces a massive earthquake disaster in the nation’s central region.
Japan is also dealing with the collision of two airplanes at its main airport in Tokyo, which rattled the nation.
The dollar stood at 142.87 yen, turning softer from 143.24 yen in New York.
Among major shares, SoftBank Group plunged 4.02 per cent to 6,040. Sony Group fell 1.83 per cent to 13,165 yen. Toyota was also off 0.44 per cent to 2,579 yen. AFP
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