The Japanese market is clawing its way back, after an epic tumble overnight.

Its Nikkei had a historic one-day drop - the first in a volatile chain of global financial markets.

It's now starting to stabilise, sitting about nine percent up on yesterday.

Matt Goodson from Salt Funds Management says Japan's weakness began a couple of days ago, when the central bank hiked up cash rates.

"The Japanese market had been pretty strong all year, the yen had been really weak - and that just turned everything around, the market fell hard, the yen really strengthened."

LISTEN ABOVE  

The Japanese market is clawing its way back, after an epic tumble overnight.
Its Nikkei had a historic one-day drop - the first in a volatile chain of global financial markets.
It's now starting to stabilise, sitting about nine percent up on yesterday.
Matt Goodson from Salt Funds Management says Japan's weakness began a couple of days ago, when the central bank hiked up cash rates.
"The Japanese market had been pretty strong all year, the yen had been really weak - and that just turned everything around, the market fell hard, the yen really strengthened."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

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