Japan Stocks Slide as Trading Resumes Following Global Sell-Off

Japanese shares slumped at the open on Friday as markets in Japan came back online after a holiday during which a profit warning from Apple sparked a global equities sell-off and fuelled concerns over slowing Chinese growth, the Financial Times reported. The Topix, in its first day of trading for the year, fell as much as 3.2 per cent in early trading with resources stocks down 4 per cent and the technology segment off 3.5 per cent. The moves came after Apple’s first revenue forecast cut in 16 years– issued after US trading on Wednesday – sent the iPhone maker’s shares tumbling nearly 10 per cent on Thursday and led to a decline of more than 3 per cent on the tech-heavy Nasdaq overnight. The hit to Japanese stocks also followed a sharp jump for the yen on Thursday as investors sought traditionally safer assets. Read more