Tokyo's Nikkei plunges more than 2% on China debt crisis fearsThere are fears that Chinese authorities may not be able to contain the fallout of Evergrande's potentially disorderly collapse, which poses contagion risks. TOKYO: Tokyo's key Nikkei 225 index plunged more than two percent at the open on Tuesday, extending Wall Street falls on contagion fears from the expected collapse of debt-plagued Chinese property giant Evergrande. The benchmark Nikkei 225 index dived 2.07% or 630.51 points to 29,869.54 in early trade, while the broader Topix index fell 2.21% or 46.36 points to 2,053.81. Evergrande, one of China's biggest developers, is on the brink of collapse as it wallows in debts of more than $300 billion. On Wall Street, the Dow ended down 1.8% at 33,970.47, the broad-based S&P finished down 1.7% and the tech-rich Nasdaq fell 2.2%.

Source: Bangkok Post September 21, 2021 02:03 UTC