RTTNews - Japan stocks are expected to open lower on Tuesday following Wall Street's broad sell-off overnight. U.S. stocks opened the trading week with a negative reaction to new concerns about economic recovery.
Weakness in the banking and resources related stocks pushed Japan's market lower on Monday.
The benchmark Nikkei 225 Average dropped 96.15 points or 0.95 percent to 10,039.67. Of the Nikkei component stocks, there were 93 closing higher, 125 were lower and 7 were unchanged.
The broader Topix index was down 3.72 points or 0.4 percent at 946.82.
Among the financials, Mitsubishi UFJ Financial Group was down 21 yen or 3.22 percent, Mizuho Financial fell 10 yen or 3.70 percent, Sumitomo Mitsui was down 300 yen or 6.90 percent and Resona Holdings dropped 32 yen or 2.17 percent.
In the resources sector, Nippon Mining was down 15 yen or 2.60 percent, Oil explorer/producer Inpex was down 15,000 yen or 1.86 percent and Toho Zinc fell 15 yen or 3.43 percent.
The telecoms were mixed, with Nippon Telegraph & Telephone up 150 yen or 3.97 percent, NTT DoCoMo was up 1,500 yen or 1.07 percent, KDDI was unchanged and Softbank was down 19 yen or 0.98 percent.
In overseas trading, renewed economic worries sent stocks on Wall Street tumbling Monday. At the closing bell, the Dow Jones Industrial Average was down 187.13 points or 2.13 percent at 8,612.13, the Nasdaq Composite index was lower by 42.42 points or 2.28 percent at 1,816.38 and the Standard & Poor's 500 index was down 23.49 points or 2.38 percent at 923.72.
Most major market indices in the Asia/Pacific region closed lower on Monday.
Hong Kong's Hang Seng index fell 390.72 points or 2.07 percent to 18,498.96.
In China, the Shanghai Composite index managed a gain of 45.79 points or 1.67 percent to 2,789.55
The BSE 30 index in India declined 362.72 points or 2.38 percent to 14,875.52.
Indonesia's Jakarta Composite index was down 21.07 points or 1.01 percent to 2,069.88.
In South Korea, the KOSPI/Seoul Composite index declined 16.17 points or 1.13 percent to 1,412.42.
The Taiwan Weighted Index was down 222.67 points or 3.45 percent at 6,225.56.
In early trading Tuesday, New Zealand's NZX-50 index was trading lower by about 0.7 percent at mid-morning.
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