Nikkei falls over 2% on concerns over China's economy

© Kyodo News

Tokyo stocks plunged Monday, with the Nikkei index falling over 2 percent to below the 28,000 mark, hit by concerns over China's economy after its central bank cut a benchmark lending rate for the first time since April 2020.

The 225-issue Nikkei Stock Average ended down 607.87 points, or 2.13 percent, from Friday at 27,937.81, its lowest closing level since Dec. 6. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 43.14 points, or 2.17 percent, lower at 1,941.33.

Every industry category lost ground, led by securities house, mining and rubber product issues.