Foreign Markets

Japanese stocks melted today, adding to recent losses amid an overall negative global session. It is being feared that US President Donald Trump's economic policies and possible retaliatory actions es will fuel inflation, keep interest rates elevated and drag down global economic growth. Japan's benchmark index, Nikkei 225, fell into correction zone on Monday. The index was dragged by a selloff in chip and export-related stocks and plummeted 4.1% to 35,617.56, while the broader Topix Index settled 3.6% lower at 2,658.73. With this slide, Automakers saw heavy losses, with Toyota Motor, Honda, Mitsubishi and Nissan falling 3-4%. With the today's tumble, Nikkei tested around six month low. On the economic front, Japan's housing starts rose for the first time in ten months in February, data from the Ministry of Land, Infrastructure, Transport, and Tourism showed on Monday. Housing starts gained 2.4% year-on-year in February, reversing a 4.6% fall in the previous month.

Powered by Capital Market - Live News