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On Monday, Tokyo stocks saw a significant decline in the opening moments, with the 225-issue Nikkei Stock Average dropping 647.28 points, or 1.64 percent, from Friday’s close to reach 38,876.27 within the first 15 minutes of trading.

Amidst economic slowdown and a downturn in business sentiment, China has established a conservative official growth target of approximately five percent for the current year. Premier Li Qiang, delivering his work report at the National People’s Congress (NPC), pledged to generate 12 million jobs, striving to maintain the surveyed urban unemployment rate at around 5.5 percent. The week-long NPC session, attended by President Xi Jinping and over two thousand delegates, concentrates on vital initiatives to fortify the second-largest economy following the post-COVID-19 deceleration.