Nikkei sinks to 1-month low after BOJ tankan chills mood

Japanese stocks tumbled to a 1-month low on Friday after the Bank of Japan’s quarterly corporate survey showed business sentiment among large manufacturers sank to its lowest level in nearly three years, sapping risk appetite and weighing down stocks across the board.

The Nikkei share average shed 3.6 percent to end the day at 16,164.16, its lowest close since March 1. Japan’s benchmark index ended the week 4.9 percent lower.

The Nikkei Volatility Index climbed as much as 27 percent during the session, its highest in more than two weeks.

The broader Topix fell 3.4 percent to end the day at 1,301.40 with each of its 33 subindexes in negative territory. The index ended the week 4.7 percent lower.

The JPX-Nikkei Index 400 declined 3.5 percent to 11,738.40.

Source: Reuters