Japanese stocks followed the downward trend of global markets on Monday, as the selling wave in Asian markets that began last week continued, with the Nikkei 225 and Topix indexes falling by more than 12%.
Japanese indices have fallen more than 20% from their highs on July 11.
The index's 12.4% decline, closing at 31,458.42 points, is the index's worst daily performance since Black Monday in 1987. The index's losses in points, which amounted to 4,451.28 points, are the largest in its history.
It is worth noting that the Nikkei index thus erased all its gains achieved so far this year, heading towards recording a loss since the beginning of the year. The broader Topix index also fell by 12.23%, closing at 2,227.15 points.
Index heavyweights such as Mitsubishi, Mitsui & Sumitomo and Marubeni fell more than 14%, wiping out about 20% of Mitsui's market value.
Japanese stocks' decline today came after sharp gains on Friday, with the Nikkei 225 index falling more than 5% and the Topix down more than 6%, posting its worst daily performance in eight years, while the Nikkei saw its worst daily performance since March 2020.
