4:30 PM Tokyo Ė Nikkei average in Tokyo dropped 3% after a sustained plunge in Chinese stocks extended to commodities and currencies market with worldwide implications. In a preliminary estimate, exports in June for the first three weeks rose 10% and imports dropped 5.5%.
Markets in Asia plunged and the Nikkei average in Tokyo dropped more than 3% after indexes in China and in Hong Kong deepened month-long losses.
Eight largest markets in Asia plunged and commodities traded at new 2015 lows after Shanghai index declined nearly 7% and the Hang Seng index in Hong Kong dropped 5%.
On the economic front, Japanís preliminary current account surplus rose in May and trade balance in June declined in after three weeks in June.
The preliminary current account surplus in May jumped to 1.88 trillion yen compared to 1.33 trillion yen surplus in April, the ministry of Finance said.
Separately the ministry said first 20-dayís provisional trade balance for June declined 80.7% to 156.54 billion yen from 811.07 billion yen in the same month a year ago.
The exports in June climbed 10% to 4.32 trillion yen from 3.93 trillion yen while imports dropped 5.5% to 4.48 trillion yen compared to 4.74 trillion yen in a year ago month.
The Nikkei 225 Stock Average declined 638.95 or 3.1% to 19,737.64 and the broader Topix index dropped 54.75 or 3.3% to 1,582.48.
The yen closed at 121.86 against a dollar.
Stocks in Review
Aeon Mall Co., Ltd
declined 5.2% to 2,249 yen after the shopping centres operator reported net sales in the first-quarter ending in May soared 13.9% to 55.82 billion yen from 49 billion yen in a year ago period.
Net income in the quarter slumped 9.3% to 5.06 billion yen compared to 5.58 billion yen and diluted earnings per share slipped to 22.19 yen from 24.45 yen in the same period a year ago.
The shopping centres operator forecasted net sales for the first-half ending in August to climb 16.7% to 114 billion yen but net income to drop 7.5% to 93 billion yen.
The company forecasted net sales in the year to surge 16.7% to 238 billion yen and net income to increase 0.4% to 24.60 billion yen.
slumped 4.3% to 288 yen after the Nikkei daily said printing inks and equipment makerís sales for the first-half ending in June was unchanged at 410 billion yen and operating profit increased 10% to 22 billion yen.
For the fiscal year, the company estimated sales to jump 8% to 900 billion yen and operating profit rising 22% to 50 billion yen.
Hakuhodo DY Holdings Inc
dropped 4.2% to 1,321 yen after the advertising company agreed to acquire Canada-based rival Sid Lee International LLC for an undisclosed amount.
plunged 8.5% to 5,720 yen after the social networking services provider plans to offer new shares worth about 20.39 billion yen to repay the debt from previously announced acquisitions.