Japan's Nikkei stock index plunges over 3% amid rising crude oil futures
TOKYO (Kyodo) -- The Nikkei stock index briefly tumbled over 3 percent early Friday, weighed down by overnight Wall Street losses after the West Texas
Japan's Nikkei stock index experienced a significant decline of more than 3% on Friday morning, as a result of Wall Street losses and increased crude oil futures prices surpassing $100 per barrel, amid rising tensions in the Middle East. Within the initial 15 minutes of trading, the 225-issue Nikkei Stock Average witnessed a drop of 1,991.60 points, or 3.05%, from Thursday's closing level of 63,279.35.
The Topix index, representing the broader market, saw a decrease of 76.92 points, or 1.90%, bringing its closing figure to 3,977.66. Nonferrous metal, electric appliance, and machinery issues were among the top-tier Prime Market's main decliners. At 9 a.m. Tokyo time, the U.S. dollar was valued at 154.46-48 yen, which was slightly higher compared to the New York rate of 154.36-46 yen and the Tokyo rate of 153.40-42 yen recorded at 5 p.m. on Thursday.
Meanwhile, the euro was trading at $1.1610-1611 and 179.34-36 yen, showing a marginal increase from the previous day's New York rate of $1.1606-1616 and Tokyo rate of 179.22-32 yen.
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