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Markets

Evergrande turmoil drags down Japan stocks on holiday return

Other Asian markets flat as investors await news on property developer

Tokyo stocks fell sharply in morning trade on Sept. 21, following other major markets lower on China Evergrande turmoil. (Photo by Tetsuya Kitayama)

HONG KONG/TOKYO -- Japanese stocks are the latest to be caught up in the global sell-off sparked by the looming default of property developer China Evergrande Group, with the main Tokyo share index closing down more than 2% on Tuesday.

Other major Asian markets rose slightly after tumbling on Monday, with investors now awaiting signals from Beijing on how it intends to handle Evergrande's debt crisis.

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