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Japanese shares plunge, Nikkei closes down 7.3%

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Japanese shares plunge, Nikkei closes down 7.3%


Japanese shares plunged in Thursday’s trade – with the Nikkei closing down 7.3 percent and the Topix ending down 6.9 percent, its biggest fall since March 2011.

One of the main drivers of the losses was data from China showing that manufacturing activity fell in May.

Markets were also spooked by concerns that the US Federal Reserve might downscale its bond purchases.

The Nikkei and the Topix have both gained more than 40 percent this year – amid unprecedented quantitative easing by the Bank of Japan.

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