Jiji Press TOKYO (Jiji Press) — Stocks sank deeper across the board on the Tokyo Stock Exchange on Wednesday, as heightened trade tensions between the United States and China continued to chill investor sentiment.
The 225-issue Nikkei Stock Average dived 321.13 points, or 1.46 percent, to end at 21,602.59, a level unseen since April 2 on a closing basis. On Tuesday, the key market gauge tumbled 335.01 points.
The TOPIX index of all First Section issues was down 27.51 points, or 1.72 percent, at 1,572.33, after losing 18.09 points the previous day.
Both the Nikkei and TOPIX stayed deep in negative territory for the rest of the session, also pressured by the yen’s strengthening against the dollar, brokers said.
“A risk-off mood will likely prevail at least until Friday” to see what will happen in the trade negotiations, said Hiroaki Kuramochi, chief market analyst at Saxo Bank Securities Ltd.
Yutaka Miura, senior technical analyst at Mizuho Securities Co., also attributed the Tokyo market sell-off to the dollar’s plunge below ¥110.