TOKYO: Tokyo's benchmark Nikkei index dropped more than 1.8 percent on Thursday, depressed by several factors including rising US bond yields and the struggles of property giant China Evergrande.
The Nikkei 225 index fell 1.87 percent, or 546.97 points, to 28,708.58, while the broader Topix index lost 1.32 percent, or 26.86 points, to 2,000.81.
"Concerns over rising US long-term interest rates and the Evergrande saga weighed on the market throughout the day," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.
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Shares in embattled Evergrande tumbled as it resumed trading following a 17-day suspension after saying the planned sale of its property services arm had collapsed.
Selling pressure increased in afternoon trade following declines on US stock futures, brokers said.
"There are some good factors such as a fall in coronavirus infections in Japan, but the market tends to react to negative news," Horiuchi told AFP.
Local media said Tokyo would lift most of its restrictions at restaurants and bars in the capital as the number of infections has fallen sharply.
In Tokyo, tech-related shares were among losers after the Nasdaq index fell on Wednesday.
Tech investor SoftBank Group dropped 2.05 percent to 6,574 yen. Advantest, a maker of testing tools for semiconductors, plunged 3.24 percent to 8,950 yen.
Automakers lost ground on a stronger yen.
Toyota shed 2.36 percent to 1,983.5 yen with Nissan down 1.40 percent at 595.5 yen.
The dollar stood at 113.97 yen in Asian afternoon trade, down from 114.33 yen on Wednesday in New York.
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