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Nikkei briefly plunges over 800 points in morning for virus fears

The benchmark Nikkei stock average fell as much as over 800 points Monday morning. (Shutterstock)
The benchmark Nikkei stock average fell as much as over 800 points Monday morning. (Shutterstock)
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30 Mar 2020 01:03:50 GMT9
30 Mar 2020 01:03:50 GMT9

TOKYO: The benchmark Nikkei stock average fell as much as over 800 points Monday morning, as fears over expanding novel coronavirus infections dampened market sentiment.

The Nikkei average of 225 selected issues listed on the Tokyo Stock Exchange's first section finished the morning session at 18,762.70, down 626.73 points, or 3.23 pct, from Friday's closing.

The TOPIX index of all first-section issues tumbled 50.32 points, or 3.45 pct, to 1,409.17.

Investors accelerated selling from the outset, in view of a sharp downturn on Wall Street Friday in which the Dow Jones industrial average lost some 4 pct amid more and more people falling prey to the virus in the United States.

"The epicenter of the coronavirus outbreak has moved from China to the United States," said Chihiro Ota, general manager for investment research and investor services at SMBC Nikko Securities Inc., adding that a risk-off mood has prevailed in global financial markets.

The yen's appreciation against the dollar and other major currencies also weighed down Tokyo stocks, brokers said.

At noon, the dollar stood at 107.31-32 yen, down from 108.91-91 yen at 5 p.m. Friday. The euro was at 119.03-06 yen, down from 120.01-01 yen.

JIJI Press

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