Nikkei Index Closes Down 1.61%... Impact of Sharp Decline in US Nasdaq (Comprehensive)

Rising US Long-Term Interest Rates Weaken Investment Sentiment
Impact of Hong Kong Stock Transaction Stamp Duty Increase Policy

[Image source=Yonhap News]

[Asia Economy Reporter Hyunju Lee] On the 24th, the Tokyo stock market in Japan fell sharply due to the weakness of the US Nasdaq.

On that day, the Nikkei 255 index closed at 29,671.70, down 1.61% (484.33 points) from the previous trading day. The TOPIX index closed at 1,903.07, down 1.82% (35.28 points).

The Nihon Keizai Shimbun analyzed, "Risk aversion intensified due to the temporary sharp decline in the US Nasdaq Composite Index, which has a high proportion of technology stocks, leading to widespread selling," and added, "Concerns grew that growth stocks, which have driven the market so far, might collapse due to the prolonged high US long-term interest rates."

Additionally, it explained, "Investor sentiment was further weakened as the policy to increase the Hong Kong stock transaction stamp duty was reported, causing the Hang Seng Index to fall sharply and close at a low price."

This is the first time since the 12th that the Nikkei index has fallen below 30,000 yen.

This content was produced with the assistance of AI translation services.