The Nikkei 225's decline widened sharply following China's CXMT reporting “remarkable progress.” Korean stocks fell more than 5%, while the decline in KOSPI200 futures reportedly triggered a sidecar.
The Nikkei 225 fell to 67434.81, down 1596.11, or 2.31%, while Korean stocks fell to 6061.82, down 322.42, or 5.05%.
China's CXMT reporting “remarkable progress” drew market attention and was reported as a factor behind the declines in Japanese and Korean stocks.
KOSPI200 futures on the Korea Exchange fell more than 5%, triggering a sidecar. The Tokyo market also opened sharply lower, and risk-off trading continued against a backdrop of declines in US semiconductor stocks.