Tokyo stocks lost 2.03 per cent today (October 21st) as investors worried about weak China growth.
Selling pressure grew after China said its economy expanded 7.3 per cent on-year between July-September, the slowest pace since the start of the global financial crisis.
The Nikkei 225 index at the Tokyo Stock Exchange closed at 14,804.28, while the Topix index of all first-section issues fell 1.55 per cent to 1,205.36.
This comes a day after the Nikkei rose four per cent on yen depreciation and a report stating Japan's national pension fund will increase its domestic equity holdings to 25 per cent from 12 per cent.
“October is typically a volatile month for the market, and thus far it hasn't disappointed (…)the volatility is likely to continue for a while, at least until the US (Federal Reserve policy) meeting on October 28th and 29th," Chibagin Asset Management general manager, Yoshihiro Okumura, told Dow Jones Newswires.
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