Nikkei index falls below the 38,000 level for the first time this month

Japan’s Nikkei index fell on Monday below the important level of 38,000 points for the first time this month as risk aversion prevailed amid concerns about economic growth in Japan and abroad.

Toyota shares fell by 2.6% as the repercussions of the data tampering scandal continue. Automotive-related stocks were among the worst performing sectors.

The Nikkei index ended the session down 1.8% at 38,102.44 points, after earlier declining by up to 2.2% to 37,956.4 points for the first time since May 30.

Of the 225 stocks on the index, 199 stocks declined, 25 stocks rose, and one stock stabilized. The broader Topix index also fell 1.7%.

Almost all 33 sector indices on the Tokyo Stock Exchange declined, led by the real estate sector index, which fell 3.5%, and only the pharmaceutical sector shares were able to achieve slight gains.