TOKYO -- Asian equity markets were hit on Friday as concerns began to rise over a new COVID variant that is spreading in South Africa and has been detected as far away as Hong Kong, worrying investors of its impact on the global economy.
Japan's blue-chip Nikkei Stock Average at one point dropped close to 900 points, or 3%, before closing down 2.5% at its lowest level in a month. The broader Topix index fell 2% with all 33 sectors weakening. Shares in heavyweights fell sharply, with SoftBank Group losing 5% and Uniqlo operator Fast Retailing declining over 3%.
