IANS | 19 Apr, 2024
Tokyo stocks closed sharply lower on Friday, weighed down by the
risk-off sentiment stemming from the escalating conflict in the Middle
East.
Japan's benchmark Nikkei stock index, the 225-issue
Nikkei Stock Average, ended down 1,011.35 points, or 2.66 per cent,
from Thursday at 37,068.35, suffering the largest point drop since
February 26, 2021, Xinhua news agency reported.
The broader Topix index, meanwhile, finished 51.13 points, or 1.91 per cent, lower at 2,626.32.
Stocks
fell sharply from the outset, with the Nikkei briefly losing over 1,300
points, falling below the 37,000 line for the first time in over two
months, as news of Israel's attack on Iran, which led to a jump in crude
oil prices and the buying of safer U.S. bonds, shook investors and
spurred selling of stocks across the board, analysts said.
Heavyweight
semiconductor issues suffered heavy losses from the start of trading,
with Tokyo Electron dropping 8.7 per cent, while Advantest shed 4.4 per
cent.