Asian stocks are getting smoked

The global stock rout continues.

In Asia, Japan’s Nikkei index opened after a holiday on Thursday, and fell more than 5% at the start of trading.

It is down 4.84% as of 7:49 a.m. UK time. Here’s the chart:

Banking stocks are feeling the pain. Japanese bank Nomura fell more than 12% to hit its lowest level since 2012.

Here’s how that looks on the chart:

Markets in China are still closed for the lunar New Year holidays but Hong Kong’s Hang Seng is open and falling.

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