URGENT: Nikkei extends losses, down over 2% in afternoon, falls below 28,000

Economy

The benchmark Nikkei index extended its losses on Monday afternoon, dropping over 2 percent and falling below the 28,000-point mark after the Chinese central bank cut a benchmark lending rate for the first time since April 2020. As of 12:45 p.m., the 225-issue Nikkei Stock Average was down 581.64 points, or 2.04 percent, from Friday at 27,964.04. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was 37.97 points, or 1.91 percent, lower at 1,946.50. Every industry category lost ground, led by rubber product, securities house and mining issues.

Kyodo News

Kyodo News