Asian Markets: Nomura shares tumble in massive sell-off


Shares in Asia were bearish Thursday with Japan's Nikkei sliding 2.6 percent. Leading the retreat, Nomura Holdings Inc. (NRSCF) plunged 16 percent – its biggest one-day loss in more than 30 years – costing the company 302.5 billion yen ($3.3 billion) in market value.

Nomura remained untraded in the morning due to the flood of sell orders placed on the news that the company plans to sell 511.3 billion yen ($5.6 billion) – nearly 30 percent of its outstanding stock. The Tokyo-based brokerage firm plans to use the proceeds to expand into the U.S., European, Asian and emerging markets. But in the meantime, this sale will severely dilute the holdings of existing investors, many of whom have already endured the purchase of Lehman Brothers' ailing European and Asian business.