TOKYO, Jan. 27 (Xinhua) -- Japan's benchmark Nikkei stock index lost over 3 percent momentarily on Thursday afternoon, marking its lowest intraday level in around 14 months.
The Nikkei index fell 888.58 points, or 3.29 percent, as of 12:45 local time.
As of 1:00 p.m. local time, however, the 225-issue Nikkei Stock Average dropped 768.88 points, or 2.85 percent, from Wednesday to 26,242.45.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 43.83 points, or 2.32 percent, at 1,848.02.
Dealers here said Thursday's selloff gathered steam on mounting concerns of a U.S. Federal Reserve rate hike at an earlier juncture than expected.