Japan's Nikkei-225 share index crashed below the key 9,000 point level for the first time in 19 years today on fears reforms may depress the economy in the short term, dealers said.
The Nikkei-225 index fell 113 points or 1.2% to close at 8,936 in the lowest close since August 12, 1983.
Shares fell on concerns the government might announce radical reforms that would worsen economic conditions in the short term, the dealers said.
Banks were hit heavily by worries the newly appointed Financial Affairs Minister Heizo Takenaka would take a hard and fast approach to fixing their bad-loan problems, while semiconductor stocks were hurt by the Wall Street slump.
* Hong Kong's key index also fell 1.4% today to below the 9,000 level for the first time in over a year, led by falls in market heavyweights Hutchison Whampoa and HSBC. The Hang Seng index lost 125 points to close at 8,984.
