Tokyo stocks dive on strong yen as Hong Kong, Shanghai extend rally

Stocks plunged more than four percent in Tokyo on Monday after the yen surged in reaction to Shigeru Ishiba's election last week as the head of Japan's ruling party, which boosted expectations the Bank of Japan will continue hiking interest rates. Among the measures unveiled over the last week were interest rate cuts, easing of how much banks must keep in reserve and softer rules on buying a home.