Tokyo stocks close higher

Tokyo stocks plunge 5 percent

Tokyo stocks plunge 5 percent

Meanwhile, the Tokyo Stock Price Index, also known as Topix, plunged roughly five more percent to 1,414, having hit its peak in January.

The 225-issue Nikkei Stock Average increased 86.13 points, or 0.45 percent, from Tuesday to 19,241.87. The broader Topix closed 4.88 percent lower at 1,415.55 after touching 1,412.90 it's weakest since November 2016.

Sony lost 294 yen, or 5.6 percent, to 5,000 yen and Panasonic slid 54.20 yen, or 5.6 percent, to 920.00 yen.

Global stock markets remained under a heavy cloud in thin year-end trading today as ongoing attempts by US President Donald Trump to undo his ill-judged interventions failed to staunch the sell-off.

Investors also reacted to reports over the weekend that Trump is discussing removing Federal Reserve Chairman Jerome Powell and that a partial government shutdown in the country may stretch into next year, brokers said.

USA stocks plunged more than two percent while oil prices sank more than six percent in a holiday-shortened Monday trade, as developments in Washington added to investors' concern about a slowdown in the global economy next year. Investors are preparing for more pain.

"Investors rushed to buy stocks thinking they won't fall lower than this", said Maki Sawada, vice president of the investment research and investor services department at Nomura Securities Co., referring to the index's fall the previous day below the psychologically important 20,000 line for the first time in 15 months. But I think it will straighten.

"As financial markets regain their calm, we expect U.S. stocks and the United States dollar will track higher", he said in a report.

Sawada said, "Last week there were rumors that Trump may remove Powell but the latest remarks helped to ease such concerns somewhat".

Markets have been roiled by concerns about a slowing global economy, the U. They're raising interest rates too fast because they think the economy is so good.

Monday's 2.7 per cent plunge on the S&P 500 has been dubbed the "Mnuchin massacre" after the market took a dim view of his tweet that he had phoned the chief executives of the big six USA banks and they had assured him they had adequate liquidity for high year-end demand. The Tel Aviv Stock Exchange 35 index gained 2.1 percent, reversing a drop of as much as 2.8 percent and snapping a streak of three straight declines.

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