Nikkei closes down nearly four per cent as Japanese stock market losses deepen

Japan's Nikkei 225 index has closed down 3.83 per cent following a speech by Prime Minister Shinzo Abe. He pledged to boost incomes by three per cent annually as well as setting up special economic zones .

I think the most important target to achieve is per capita gross national income.

That's because the aim of our growth strategy is nothing other than to create jobs for enthusiastic people and raise take-home pay for those who are working hard.

In short, to let households benefit. That's the point.

Futures are down almost five per cent. The index has now lost 19 per cent since a 23 May peak of nearly 16,000.