TOKYO: Japan’s Nikkei share average slumped on Friday in a brutal end to a volatile week as investors worried about the economic fallout from the rapidly escalating US-China trade war as well as a strong yen that has been lifted by safe-haven flows.
The Nikkei ended 2.96% lower at 33,585.58 after declining as much as 5% earlier in the session.
The broader Topix closed down 2.85% at 2,466.91.
“Risk in equities is too high right now with such huge volatilities every day. The best thing to do, I would say, is to stay away from the market,” said Yusuke Sakai, a senior trader at T&D Asset Management.
The Nikkei started the week sliding to an 18-month low on Monday but then surged 6% on Tuesday before slipping again on Wednesday. On Thursday it soared 9%, its biggest one-day gain since August. The Nikkei lost 0.6% for the week.
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