PHOTO
A pedestrian walks past an electronic price share board showing the numbers in early trading down over four percent on the Tokyo Stock Exchange, along a street in Tokyo on September 30, 2024. Japanese equities plunged on September 30 on the back of concerns that incoming prime minister Shigeru Ishiba will hike taxes in the world's fourth-biggest economy. (Photo by Richard A. Brooks / AFP)
TOKYO-- Tokyo stocks plunged on Monday, sending a key index to end with this year's third-biggest daily loss following the ruling Liberal Democratic Party's presidential election on Friday. The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) fell 1,910.01 points, or 4.80 percent, from Friday to 37,919.55, finishing with the third-biggest single-day point loss this year.
The broader Tokyo Stock Price Index, which includes all shares on the market's First Section on the TSE, also shed 95.00 points, or 3.47 percent, to 2,645.94. Following Friday's election of Shigeru Ishiba as the new LDP president, traders have been unwinding their positions as they wait for more information on his policies, public broadcaster NHK reported. Ishiba is set to become Japan's 102nd Prime Minister on Tuesday.
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