TOKYO, Feb 28 (Reuters) - Japanese shares plummeted on
Friday to their lowest in five and a half months amid a global
market sell-off and mounting concerns over the coronavirus
epidemic.
The benchmark Nikkei average .N225 tumbled 3.5% to
21,184.77, its lowest level since early September, by the midday
break. The index was down 9.4% for the week, the biggest in four
years.
The Nikkei's volatility index .JNIV , a measure of
investors' volatility expectations based on option pricing,
spiked to as high as 39.09, its highest level since June 2016.
The broader Topix .TOPX shed 3.2% to 1,517.76 by the
break, again its lowest since early September.
In a sign of broad selling, all of the 33 sector sub-indexes
on the Tokyo Stock Exchange were trading lower, with real estate
.IRLTY.T , mining .IMING.T and information and communication
.ICOMS.T being the worst performers.
Semiconductor and other cyclical shares were hit hard, with
Tokyo Electron Ltd 8035.T and Screen Holdings Co Ltd 7735.T
declining 4.6% and 5.2%, respectively. Honda Motor Co Ltd
7267.T lost 3.9%.
Electronic parts makers Murata Manufacturing Co Ltd 6981.T
and TDK Corp 6762.T dropped 4.2% and 4.1%, respectively.
Bucking the overall weakness, childcare and after-school
daycare centre operator Like Kids Inc 6065.T jumped 13.9%
after Prime Minister Shinzo Abe late Thursday urged Japan's
entire school system, from elementary to high schools, to close
from Monday until spring break late in March to help contain the
virus outbreak. Oriental Land Co Ltd 4661.T ended the morning session 0.9%
higher on the day but may face a selloff in afternoon trade as
the amusement park operator said it will close Tokyo Disneyland
and DisneySea from Saturday until March 15.