Nikkei plunges nearly 7 per cent on grim earnings outlook
Tokyo stocks plunged Wednesday as investors worried about the grim outlook for Japanese firms' earnings.
The Nikkei 225 Stock Average tumbled 631.56 points, or 6.79 per cent, to end 8,674.69, reported dpa.
The broader Topix index of all first-section issues also lost 67.41 points, or 7.05 per cent, to 889.23.
Japan's automaker Mitsubishi Motors Corp expected a 7.6-per-cent fall in sales in the year's first six months through September due to slowing demand in the United States and Europe, the company said.
On currency markets at midday (0300 GMT), the dollar was quoted at 100.30-35 yen, down from Tuesday's 5 pm quote of 101.20-22 yen.
The euro dropped to 1.2975-80 dollars from Tuesday's 5 pm quote of 1.3260-62 dollars, and to 130.20-25 yen from 134.19-23 yen.