The Japanese stock market was also hit by the aftermath of the earthquake and tsunami which hit the island last Friday. Following a session of heavy sell-off, Nikkei closed after having lost 6.18 per cent of its total points.
Manufacturing companies companies such as Canon, Toyota and Sony suffered losses of 6 up to 9 per cent in the value of their shares. Meanwhile, amidst news of an explosion in the second reactor building at the Fukushima Daiichi nuclear plant, Tokyo Electric Power, its operator, saw a 23.6 per cent dive.
The Bank of Japan (BoJ) offered 15 trillion yen (£114 bn) injection into the banking system to reassure investors, having previously pledged to prevent possible speculator profiteering.