Asia Stock Markets Plunge After US Shares Tumbled

Africa Business News

Stock markets across Asia plunged on Monday, following big falls last week by major indexes around the world. In Japan, the Nikkei 225 index fell by 12.4%, or 4,451 points - its largest points drop in history, while the broader Topix index lost 12.2%. It comes after weak jobs data in the US on Friday sparked concerns about weakness in the world's largest economy. A stronger yen makes Japanese goods more expensive, and consequently less attractive to potential overseas buyers. India's main index, the NSE Nifty 50, was trading 2.8% lower and the S&P/ASX 200 in Australia was down about 3.6%. The Hang Seng in Hong Kong was down 2.5%, while the Shanghai Stock Exchange was 1.4% lower.
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