- Nikkei is catching up after a stock market crash
At the Tokyo Stock Exchange, the Nikkei 225 index, which tracks 225 leading stocks, is recovering after suffering significant losses at the start of the week. As of midday (local time), the index was up by 2,957.90 points or 9.4 percent, standing at 34,416.32 points.
On Monday, the index plummeted by more than 12 percent, leading to dramatic losses at stock exchanges in other countries as well. The recent sharp rise in the Japanese yen had put significant pressure on the stocks of Japanese companies that rely heavily on exports. However, traders now report that sentiment has improved following a subsequent weakening of the yen.
The Nikkei 225 index, which had plummeted significantly on Monday, is now recovering at the Tokyo Stock Exchange. As of midday, the index has gained 2,957.90 points, marking a 9.4 percent increase, bringing it to 34,416.32 points.
