TOKYO -- Foreign investors' demand for Japanese stocks has waned as momentum shifts to European and Chinese shares and as the appeal of Tokyo's corporate governance reforms begins to lose steam.
The Nikkei Stock Average dropped 817.76 points, or 2.2%, to 36,887.17 on Friday amid concerns the U.S. could be heading in to a recession and a stronger yen. The benchmark index was down 7.5% this year and was more than 12% below the all-time high reached last July.
