A financial board in Tokyo shows the Nikkei stock index falling below the 29,000 mark on Nov. 26, 2021. (Kyodo)

       TOKYO (Kyodo) -- The Nikkei stock index dropped over 3 percent Friday afternoon, trading at its lowest intraday level in about a month, as selling accelerated on concerns over reports of a new COVID-19 variant in South Africa.

       As of 1 p.m., the 225-issue Nikkei Stock Average was down 828.38 points, or 2.81 percent, from Thursday at 28,670.90. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was 45.45 points, or 2.24 percent, lower at 1,980.24.

       "As European countries implement lockdowns and restrict movements due to a surge in infections, reports of a new variant serve as an additional negative factor and deepen uncertainty over the global economic recovery," said Maki Sawada, a strategist at Nomura Securities Co.'s investment content department.

       "The ongoing strengthening of the yen and falls in some Asian markets pulled the market down further," she added.

       It is feared the variant confirmed in South Africa may be highly contagious and the efficacy of COVID-19 vaccines against the variant is being questioned due to the nature of its mutations.

       Every industry met selling, led by air transportation, nonferrous metal, and real estate issues.

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