TOKYO (dpa-AFX) - The Japanese stock market is trading modestly lower on Tuesday after opening in the green, snapping a seven-session winning streak, following the mixed cues from Wall Street overnight, with the Nikkei 225 falling well below the 72,250 level, with weakness in index heavyweights, automakers and financial stocks partially offset by gains is technology stocks.
The benchmark Nikkei 225 Index is down 138.77 points or 0.19 percent at 72,215.19, after hitting a low of 71,789.13 earlier. Japanese shares ended sharply higher on Monday.
Market heavyweight SoftBank Group is tumbling almost 7 percent and Uniqlo operator Fast Retailing is edging down 0.1 percent. Among automakers, Honda is losing more than 1 percent and Toyota is edging down 0.1 percent.
In the tech space, Advantest is gaining more than 2 percent, Screen Holdings is adding almost 1 percent and Tokyo Electron is edging up 0.2 percent.
In the banking sector, Sumitomo Mitsui Financial and Mizuho Financial are losing almost 1 percent, while Mitsubishi UFJ Financial is edging down 0.5 percent.
The major exporters are mixed. Mitsubishi Electric is gaining almost 2 percent and Panasonic is edging up 0.2 percent, while Canon is down almost 1 percent and Sony is edging down 0.3 percent.
Among the other major losers, Furukawa Electric is tumbling more than 6 percent and Mitsui Kinzoku is sliding more than 5 percent, while Murata Manufacturing and Ajinomoto are slipping almost 5 percent each. Sumco is declining almost 4 percent and Trend Micro is losing more than 3 percent, while Denka, Ibiden, Sumitomo Chemical and BayCurrent are down almost 3 percent each.
Conversely, Fujikura is gaining soaring almost 13 percent and Komatsu is gaining almost 3 percent.
In the currency market, the U.S. dollar is trading in the higher 161 yen-range on Tuesday.
On Wall Street, stocks moved mostly lower during trading on Monday following the strong performance seen during last Friday's session with trading resuming following the long holiday weekend. The tech-heavy Nasdaq showed a significant move to the downside.
The Nasdaq saw continued weakness late in the day, closing down 351.33 points or 1.3 percent at 26,166.60. The S&P 500 also fell 27.79 points or 0.4 percent to 7,472.79, while the narrower Dow bucked the downtrend and rose 148.01 points or 0.3 percent to 51,712.71.
The major European markets all ended the day mixed. The U.K.'s FTSE 100 Index advanced by 0.7 percent and the German DAX Index climbed by 0.6 percent, although the French CAC 40 Index bucked the uptrend and fell by 0.3 percent.
Crude oil prices plunged on Monday even though the Iranian military says it has again closed off the Strait of Hormuz, although there are reports of commercial vessels are operating freely in the strait. West Texas Intermediate crude for July delivery was down $1.63 or 2.13 percent at $74.97 per barrel.
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