Tokyo stock market drops by more than 500 points

Stock prices plummeted on the first day of trading on the Tokyo Stock Exchange in January 2020, on fears of a growing conflict in the Middle East.

The Nikkei 225 benchmark index opened at 23.319,76, down 336,86 from the December 30 closing price. The decline in the morning trading by one point exceeded 500 points.

During the New Year's holiday, tensions between Washington and Tehran increased after US President Donald Trump ordered a drone strike in Iraq that killed Iranian commander Qassem Soleimani.

This is the second consecutive year that the TSE opened below closing on the last trading day of the previous year.

In the Tokyo currency market, the yen was trading around 107,90 a dollar in the morning, up 1,20 yen from late-afternoon levels on December 30.

Source: Asahi // Photograph: Asahi / Reina Kitamura

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