RTTNews - A mixed to lower open is expected for Tokyo stocks on Tuesday, following Wall Street's lukewarm lead overnight. U.S. stocks were mixed, as economic recovery concerns continued. Oil prices plunged on demand worries.
Japan's market closed lower in a session of light trading on Monday.
The benchmark Nikkei 225 Average fell 135.20 points or 1.30 percent to 9,680.87.
Of the Nikkei component stocks, 38 closed higher, 179 were lower and 8 closed unchanged.
The broader Topix index fell 8.2 points or 0.9 percent to close at 912.42.
Among the stocks and sectors of interest, the major banks were modestly lower. Among them, Mitsubishi UFJ was down 4 yen or 0.67 percent, Mizuho Financial was down 1 yen or 0.44 percent, Sumitomo Mitsui was down 30 yen or 0.76 percent and Resona Holdings declined 4 yen or 0.29 percent.
A declining Baltic Dry Index rate hurt the shipping companies. Nippon Yusen was down 14 yen or 3.41 percent, Mitsui OSK Lines fell 26 yen or 4.38 percent and Kawasaki Kisen Kaisha declined 10 yen or 2.64 percent.
In the resources sector, oil explorer/producer Inpex dropped 22,000 yen or 2.99 percent in light trading, Nippon Oil was down 15 yen or 2.84 percent and Showa Shell was down 31 yen or 3.13 percent. Chemical company Showa Denko was down 3 yen or 1.67 percent.
The telecoms were mixed, with Softbank down 6 yen, Nippon Telegraph and Telephone was up 70 yen or 1.84 percent, NTT DoCoMo was up 2,100 yen or 1.52 percent and KDDI advanced 1,000 yen or 0.20 percent.
In overseas trading, U.S. stocks put in a mixed performance on Monday. At the closing bell on Wall Street, the Dow Jones Industrial Average was up by 44.13 points or 0.53 percent at 8,324.87, the Nasdaq Composite index was down 9.12 points or 0.51 percent at 1,787.40 and the Standard & Poor's 500 index was up 2.30 points or 0.26 percent at 898.72.
Most of the major markets in the Asia/Pacific region closed lower on Monday.
The Hang Seng index in Hong Kong was down 223.99 points or 1.23 percent to 17,979.41.
In China, the Shanghai Composite index closed up 36.30 points or 1.18 percent at 3,124.67.
India's BSE 30 index was down 869.65 points or 5.83 percent at 14,043.40.
The Jakarta Composite index in Indonesia was down 40.29 points or 1.94 percent at 2.035.01.
In South Korea, the KOSPI/Seoul Composite index was up 8.90 points or 0.63 percent at 1,428.94.
The Taiwan Weighted Index was down 15.49 points or 0.23 percent at 6,649.91.
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