Japanese stocks had another violent night with record trading volumes on the TOPIX. The early 'buy the dip mentality' rapidly escalated into sell-Mortimer-sell as the Nikkei 225 dropped another 1000 points after the lunch break. A late day recovery managed to close the index just in the green and all could relax that the world was once again a better place thanks to Abenomics. However, since Japan closed, Nikkei futures have been sold aggressively now testing back down towards overnight lows.
The overnight destruction was save by a late-day recovery just into the green - but things are escalatung rapidly once again...
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Last night's drop occurred on record trading volume on the TOPIX...
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Charts: Bloomberg and @InsideGame