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East Asian stock markets tumble sharply again

TOKYO, Aug 25 (KUNA) -- East Asia's stocks continued to fall sharply Tuesday amid growing fears that the Chinese economic slowdown may have impact on the global economy.
The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) lost 733.98 points, or 3.96 percent, from Monday to end at 17,806.70, its lowest finish since February 10th.
The broader Tokyo Stock Price Index, which includes all shares on the market's first section, was down 48.22 points, or 3.26 percent, to 1,432.65, also the lowest closing level since February 10th.
China's main Shanghai Composite Index slumped 7.63 percent to 2,964.97 points, dipping below the 3,000-point mark for the first time since last December. The Shenzhen Composite Index also fell 7.09 percent.
Japan's top government spokesman said Tuesday that Tokyo is ready to work with the other Group of Seven (G-7) economies to deal with the possible impact from plunges in global share prices. "Global stock price movements are volatile. The Japanese government will take necessary policy steps in close coordination with G-7 counterparts," Chief Cabinet Secretary Yoshihide Suga told a press conference. The G-7 groups major industrialized countries of Canada, France, Germany, Italy, Japan, Britain and the US. (end) mk.gta