Japanese share prices plunged 3.3 per cent today to a new 15-year closing low amid growing concern over the Japanese economy and the nation's uncertain politics, brokers said.
The Tokyo Stock Exchange's Nikkei-225 index lost 419.86 points to finish at 12,261.80, the lowest since July 31st, 1985, when it stood at 12,232.27.
Despite gains in the tech-heavy Nasdaq yesterday, investors turned sellers due to the profit warning by US technology company Oracle.
Aside from the Oracle shock, investors sold shares on concerns about the future of Japan's fragile recovery as a raft of data highlighted the gloomy economic picture.
The latest bad news to be announced by the Japanese government today was the jobless rate, which stood at a post-war record high of 4.9 per cent in January with 3.17 million people out of work.
Players are also facing difficulties in buying stocks as the political scene is very unclear.
Japan's troubled Prime Minister Mr Yoshiro Mori is set to face the second no confidence motion in his 11 months in office amid growing pressure on him to resign.
AFP