Tokyo, Sept. 30 (Jiji Press)—Japan’s benchmark Nikkei 225 stock average experienced a significant drop of over 1,800 points early Monday morning. This decline in investor sentiment was attributed to the outcome of the ruling Liberal Democratic Party’s presidential election on Friday.
Market sources reported that stocks faced heavy selling following the election of former LDP Secretary-General Shigeru Ishiba as the new LDP president. During his campaign, Ishiba mentioned plans to increase financial income taxes, which further dampened investor confidence.
As of 9:28 a.m., the Nikkei index had fallen by 1,825.07 points or 4.58 percent from Friday’s closing level to reach 38,004.49.
Please note that this article is based on current information and market conditions may change throughout the day.
