TOKYO (dpa-AFX) - Extending the losses in the previous session, the Japanese market is sharply lower on Friday, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling below the 37,600 level, with weakness across most sectors led by index heavyweights, exporters and technology stocks.
The benchmark Nikkei 225 Index is down 579.99 points or 1.52 percent to 37,593.10, after hitting a low of 37,590.30 earlier. Japanese shares ended significantly lower on Thursday.
Market heavyweight SoftBank Group is gaining more than 1 percent, while Uniqlo operator Fast Retailing is losing more than 2 percent. Among automakers, Toyota is losing almost 3 percent and Honda is down almost 1 percent.
In the tech space, Advantest is edging down 0.2 percent, Tokyo Electron is slipping almost 6 percent and Screen Holdings is declining almost 4 percent.
In the banking sector, Sumitomo Mitsui Financial, Mizuho Financial and Mitsubishi UFJ Financial are losing more than 1 percent each.
Among the major exporters, Sony and Canon are declining more than 2 percent each, while Panasonic is losing 2.5 percent and Mitsubishi Electric is down more than 1 percent.
Among other major losers, Subaru is losing more than 4 percent, while Sumco, Toray Industries, Recruit Holdings, Mazda Motor and Disco are declining almost 4 percent each. Taiyo Yuden, Trend Micro and Mitsubishi Motors are slipping more than 3 percent each, while Murata Manufacturing, Yokohama Rubber, TDK and Japan Airlines are down almost 3 percent each.
Conversely, NEXON is surging more than 6 percent, Inpex is gaining almost 4 percent and Hino Motors is adding almost 3 percent.
In the currency market, the U.S. dollar is trading in the lower 143 yen-range on Friday.
On Wall Street, stocks recovered from an early move to the downside to move modestly higher over the course of the trading session on Thursday. With the turnaround, the major averages largely offset the pullback seen during Wednesday's session, with the Dow and the S&P 500 rebounding to three-month closing highs.
The S&P 500 ended the day up 23.02 points or 0.4 percent at 6,045.26, the Dow climbed 101.85 points or 0.2 percent to 42,967.62 and the Nasdaq rose 46.61 points or 0.2 percent to 19,662.48.
The major European markets also ended the day mixed. While the U.K.'s FTSE 100 Index rose by 0.2 percent, the French CAC 40 Index edged down by 0.1 percent and the German DAX Index fell by 0.7 percent.
Crude oil prices showed a modest move back to the downside during trading on Thursday, with profit taking limited by rising tensions between the U.S. and Iran over the latter's nuclear developments. West Texas Intermediate crude for July delivery eased $0.11 to $68.04 per barrel.
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