RTTNews - Japan stocks are expected to move lower at Tuesday's open, as the investment community remains concerned about the prospects for economic recovery in Asia. Traders got a negative overnight lead from Wall Street, which pared early losses but finished in the red for a second straight session.
A sharp fall in China's market sent commodities prices lower and stock prices in Japan and elsewhere lower as well, as traders largely shrugged off the results of the national elections.
A rising yen also burdened exporters.
The benchmark Nikkei 225 Average declined 41.61 points or 0.40 percent to 10,492.53.
Among the Nikkei component stocks, there were 74 closing higher, 136 closed lower and 15 were unchanged.
The broader Topix index of all First Section issues in the Tokyo Stock Exchange was down 3.58 points or 0.4 percent to 965.73.
Among the major exporters, Canon was down 120 yen or 3.25 percent, Honda Motor Co. was down 55 yen or 1.84 percent and Sony down 35 yen or 1.37 percent.
In the financial sector, heavily traded Mizuho Financial was unchanged on volume of nearly a quarter billion shares, Mitsubishi UFJ was down 1 yen or 0.17 percent, Sumitomo Mitsui was down 40 yen or 0.99 percent and Resona Holdings fell 8 yen or 0.63 percent.
The telecoms were stronger, with Nippon Telegraph & Telephone up 130 yen or 3.23 percent, NTT DoCoMo up 1,700 yen or 1.20 percent, Softbank was up 5 yen or 0.24 percent and KDDI was unchanged.
In overseas trading, U.S. markets moved broadly lower on Monday, following China's lead. At the closing bell on Wall Street, the Dow Jones Industrial Average was down 47.92 points or 0.50 percent at 9,496.28, the Nasdaq Composite index was down 19.71 points or 0.97 percent at 2.009.06 and the Standard and Poor's 500 index was down 8.31 points or 0.81 percent at 1,020.62.
Except for Taiwan's, all of the major markets in the Asia/Pacific region closed lower on Monday.
Hong Kong's Hang Seng index was down 374.43 points or 1.86 percent at 19,724.19.
The Shanghai Composite index in China was down 192.94 points or 6.74 percent at 2,667.75.
In India, the BSE 30 index dropped 255.70 points or 1.61 percent at 15,666.64.
Indonesia's Jakarta Composite index was down 35.71 points or 1.50 percent at 2,341.54.
The KOSPI/Seoul Composite index in South Korea fell 16.09 points or 1.00 percent at 1,591.85.
The Taiwan Weighted Index advanced 16.09 percent or 0.24 percent to 6,825.95.
For comments and feedback: contact firstname.lastname@example.org