Japanese and South Korean stock markets both suffered heavy losses and closed lower, with South Korea's financial regulatory body urgently convening a meeting.

BlockBeats news, October 15th, according to Bitget market data, the Nikkei 225 Index closed down 3,318.34 points, or 4.90%, at 64,425.95 points on October 15th (Thursday).

The South Korean KOSPI Index closed down 454.54 points, or 7.56%, at 5,554.27 points on October 15th (Thursday). The country's stock market fell more than 9% during intraday trading, triggering the circuit breaker mechanism for the tenth time this year.

South Korea's financial regulatory authority held an emergency meeting on the stock market in the afternoon, after which the decline in the stock market narrowed somewhat. SK Hynix initially closed down 11.06%, and Samsung Electronics fell 9.48%.