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Japan's Nikkei slumps 6.35%, enters bear market

Published on Jun 13, 2013 4:57 PM
 
Visitors look at an electronic board showing Japan's Nikkei share average at the Tokyo Stock Exchange (TSE) in Tokyo on Thursday, June 13, 2013. Tokyo stocks plunged more than six per cent on Thursday owing to a strong yen and worries about an end to central bank stimulus just months after the Bank of Japan unleashed a huge spending plan. -- PHOTO: REUTERS

TOKYO (AFP) - Tokyo stocks plunged more than six per cent on Thursday owing to a strong yen and worries about an end to central bank stimulus just months after the Bank of Japan unleashed a huge spending plan.

The benchmark Nikkei dived 6.35 per cent, or 843.94 points, to 12,445.38, slicing about 20 per cent off its peak last month above 15,600, and meeting the definition of a bear market.

The broader Topix index of all first-section shares fell 4.78 per cent, or 52.37 points, to 1,044.17.

Thursday's drop was largely attributed to jitters over an end to central bank stimulus, particularly the US Federal Reserve's massive monetary easing, which has been credited with propping up global equity markets.

 
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