Tokyo, June 23 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average plunged 2,565.58 points, or 3.54 pct, to finish at 69,788.38 on Tuesday, snapping its eight-day rising streak amid an increasing sense of overheating in the market. The index of 225 major issues on the Tokyo Stock Exchange’s top-tier Prime section closed below 70,000 for the first time since Wednesday. The broader TOPIX index skidded 104.67 points, or 2.56 pct, to 3,990.38. The Nikkei average rose for eight consecutive trading days through Monday, surging over 8,100 points and rewriting its all-time high multiple times. “It was only natural to see profit-taking selling,” an official of a private think tank said. “I don’t think that the market has significantly deteriorated.” END [Copyright The Jiji Press, Ltd.]
Nikkei Average Plunges after 8-Day Rise, Ends below 70,000
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