Tokyo stocks down more than 3%

A man looks at a screen displaying stock prices in Tokyo on March 16, 2011. -- PHOTO: REUTERS

TOKYO - JAPANESE shares slumped more than three per cent in early trade on Thursday as the yen hit its highest level against the dollar since World War II and workers scrambled to avoid a nuclear catastrophe.

The benchmark Nikkei index fell 3.63 per cent to 329.74 points to 8,763.98 in early trading after rising more than five per cent on Wednesday on bargain hunting.

That rebound followed a major two-day sell-off to start the week in the wake of Friday's massive 9.0-magnitude earthquake and tsunami, which has left nearly 13,000 people confirmed dead or missing. -- AFP