Tokyo stocks slide in morning on China property worries

Economy

Tokyo stocks slid Tuesday morning, with the benchmark Nikkei briefly sinking over 2 percent, adding to an overnight global market rout on concerns that a potential default by Chinese property developer Evergrande Group could lead to a slowdown in the world's second-largest economy. The 225-issue Nikkei Stock Average shed 601.48 points, or 1.97 percent, from Friday to 29,898.57. Japanese financial markets were closed Monday for a national holiday. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 35.34 points, or 1.68 percent, at 2,064.83. Decliners were l...

Kyodo News

Kyodo News