Japan stocks plunge

Japanese shares plummeted Thursday after the US Federal Reserve announced plans to cut its monetary stimulus further amid growing concerns about emerging economies, dpa reported. The benchmark Nikkei 225 Stock Average lost 376.85 points, or 2.45 per cent, to end at 15,007.06, while the broader-based Topix index was down 32.09 points, or 2.55 per cent, at 1,224.09. Exporters traded broadly lower as the yen climbed against the dollar and the euro. A stronger yen makes Japanese goods less competitive overseas and erodes repatriated earnings. On currency markets at 3 pm (0600 GMT), the dollar traded at 102.45-47 yen, down from Wednesday's 5 pm quote of 103.12-14 yen. The euro was quoted at 139.81-82 yen, down from 140.89-93 yen late Friday and at 1.3644-3646 dollars, down from 1.3662-3664 dollars.