2013.06.2105:33:15UTC+00Japan stocks dive after wall street selloff

Japanese stocks plunged early Friday after the Federal Reserve's plans to gradually wind down its bond purchases resulted in a second day of heavy downgrades on Wall Street. The Nikkei Stock Average drifted 2% back to 12,760.01 and the broader Topix diminished 2.4% to 1,065.53. Shares of brewer Kirin Holdings Co. declined 8%, Hino Motors Ltd. skidded 6.4% and real estate major Mitsui Fudosan Co. relinquished 4.4% to rank among the big down movers. The U.S. dollar was fetching ¥97.24, after exchanged around ¥97 when the Tokyo stock market closed Thursday, but weaker than the ¥98-yen level it saw in European and U.S. trading.