Tokyo, Nov. 18 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average plunged more than 1,600 points to slip below 49,000 on Tuesday, as a broad range of stocks were sold following overnight declines in U.S. shares. The Nikkei index ended down 1,620.93 points, or 3.22 pct, from Monday, at 48,702.98. Meanwhile, Japanese government bonds also came under selling pressure amid growing concerns that economic measures planned by the administration of Japanese Prime Minister Sanae Takaichi could further worsen Japan’s fiscal condition, market sources said. The yield on the most recent 10-year JGB, Japan’s key long-term interest rate, hit 1.755 pct at one point in interdealer trading Tuesday, the highest level since June 2008. END [Copyright The Jiji Press, Ltd.]
Nikkei Plunges over 1,600 Points to Slip below 49,000
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