Singapore: The Yen extended losses against the Dollar and the Euro and Nikkei futures in Singapore tumbled more than 3 percent on Friday after Japan was hit by a major earthquake.
The Yen dropped to as low as around 83.29 Yen to the Dollar compared to about 82.80 Yen before the quake struck. The Dollar last stood at 83.14 Yen, up 0.2 percent on Friday.
Nikkei futures on Singapore were last down at 2.8 percent at 10,075.
The Indian markets have also fallen at 12.45 pm, the Sensex was trading 248 points lower at 18,079 and the Nifty declined 76 points to 5,417.
The Indian markets had broken into the green after a better than expected industrial production growth for January. However, as reports of the earthquake spread, selling pressure intensified on the bourses.
All sectoral indices were in the red. Metal stocks fell the most. Many IT companies have huge operations in Japan. The IT index fell 1.74 per cent. TCS fell 3 per cent and Infosys declined 1.2 per cent.
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