The Tokyo market slumped to a 28-year low on June 4, 2012 as Asian shares dived on fears of a nightmare scenario of euro-zone breakup, US economic relapse and a sharp slowdown in China.Tokyo's Topix index lost as much as 2.4 percent to 692.18, a level not seen since late 1983, while the Nikkei average of major stocks tumbled 2 percent. The Nikkei last week marked its ninth straight week of losses, the longest such losing streak run in 20 years.
The MSCI's broadest index of Asia-Pacific shares outside Japan fell by as much as 2.5 percent to 2012 lows, down 17 percent from this year's peak, continuing a rout of global stocks sparked on June 1 by weak US jobs data.
European shares were likely to extend their losses, having wiped out all their 2012 gains on June 1. Spreadbetters tipped major European markets to fall by as much as 1.8 percent when trading resumes on June 4.
The benchmark 10-year Japanese government bond yield fell below 0.80 percent to its lowest since July 2003. Ten-year JGB futures prices jumped to a 19-month high.
US and German government bond yields had both hit record lows on June 1, with 10-year German yields dipping to 1.127 percent and 10-year Treasury yields touching a historic low of 1.442 percent.
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