Stocks in Japan are getting hosed

Photo by Lam Yik Fei/Getty Images

Trade in the major Asian markets is underway, as Japan’s Nikkei index opened at 11:00am AEDT and immediately crashed by more than 3%.

The broader TOPIX index is also 3.2% lower, after circuit breakers were triggered for TOPIX futures before trade commenced.

The Nikkei initially slumped by more than 3.5% before stabilising. Here’s the early move this morning:

Japanese stocks staged a tentative rally over the last two days in the wake of Tuesday’s 4.73% collapse, which saw the Nikkei enter a technical correction.

A short time ago, South Korea’s KOSPI index was around 1.9% lower while the ASX is clawing back some ground after slumping by more than 1.7% at the open.

Hong Kong’s Hang Seng index and the mainland China Shanghai Composite exchange are both scheduled to open at 12:30pm AEDT.

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