Japan's stock index Nikkei 225 fell below the 35,000 mark for the first time since January, extending sell-offs that started last week after the Bank of Japan (BoJ) decided to hike interest rates. The index plunged by 5.60% at 2:14 am CET.
Meanwhile, the yen advanced to touch its highest level against the dollar since January after United States nonfarm employment data for July showed a cooling of the country's labor market and raised prospects for a potential rate cut in September. The American dollar fell 0.87% against the yen, selling at ¥145.42800 at 2:21 am CET.
The shares of Mitsubishi UFJ Financial Group Inc., Japan's largest financial group and one of the world's ten largest bank-holding companies, holding around $1.5 trillion in deposits as of April 2024, dropped by 12.99% at 2:52 am CET to go for ¥1,319 a piece.
