TOKYO (dpa-AFX) - The Japanese stock market is trading significantly lower on Tuesday after opening in the green, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight, with the Nikkei 225 falling well below the 63,050 level, with weakness index heavyweights and technology stocks.
The benchmark Nikkei 225 Index is down 733.54 points or 1.15 percent at 63,021.36, after touching a high of 64,240.50 earlier. Japanese shares ended significantly lower on Monday.
Market heavyweight SoftBank Group is losing more than 4 percent and Uniqlo operator Fast Retailing is declining almost 2 percent. Among automakers, Honda is gaining almost 1 percent, while Toyota is losing more than 1 percent.
In the tech space, Advantest and Tokyo Electron are losing almost 2 percent each, while Screen Holdings is edging down 0.4 percent.
In the banking sector, Sumitomo Mitsui Financial is losing almost 1 percent and Mitsubishi UFJ Financial is declining almost 3 percent, while Mizuho Financial is edging up 0.2 percent.
The major exporters are mixed. Mitsubishi Electric and Canon are edging up 0.1 to 0.3 percent each, while Panasonic is losing more than 2 percent and Sony is down almost 1 percent.
Among the other major losers, NH Foods is plunging almost 9 percent, Yamato Holdings is tumbling more than 5 percent, Isuzu Motors is slipping more than 4 percent, Sapporo Holdings is sliding almost 4 percent and Oriental Land is losing more than 3 percent, while Murata Manufacturing, Sumitomo Pharma, Kikkoman and Kyowa Kirin are down almost 3 percent each.
Conversely, Furukawa Electric is jumping more than 8 percent, Nippon Electric Glass is surging almost 6 percent, LY is advancing more than 5 percent and Ibiden is gaining more than 4 percent, while Mitsui O.S.K. Lines, Fujikura and Sumitomo Electric Industries are adding almost 4 percent each. Omron and Trend Micro are rising more than 3 percent each. Lasertec, Sumitomo Heavy Industries, Otsuka Holdings, IHI, Resonac Holdings and Shimizu are up almost 3 percent each.
In economic news, the monetary base in Japan was down 13.8 percent on year in July, the Bank of Japan said - coming in at 554.925 trillion yen. That was shy of expectations for a decline of 13.0 percent following the 13.7 percent drop in June.
Banknotes in circulation fell 1.9 percent on year, while coins in circulation fell 1.1 percent. Current account balances slumped an annual 16.6 percent, including a 15.3 percent fall in reserve balances.
The adjusted monetary base fell 8.7 percent on year to 551.412 trillion yen.
In the currency market, the U.S. dollar is trading in the lower 157 yen-range on Tuesday.
On Wall Street, stocks moved sharply higher in early trading on Monday and saw even further upside as the day progressed. The major averages all showed significant advances, extending the strong upward move seen over the two previous sessions.
The major averages ended the day not far off their highs of the session. The Nasdaq surged 540.04 points or 2.1 percent to 25,913.90, the S&P 500 shot up 110.78 points or 1.5 percent to 7,600.50 and the Dow jumped 693.38 points or 1.3 percent to 53,178.41.
Meanwhile, the major European markets showed a mixed performance on the day. The German DAX Index jumped by 1.5 percent and the French CAC 40 Index shot up by 1.2 percent, although the U.K.'s FTSE 100 Index bucked the uptrend and edge down by 0.1 percent.
Crude oil prices plummeted on Monday, with supply disruption threats diminishing after U.S. President Donald Trump called off a planned attack on Iran. West Texas Intermediate crude for September delivery was down $4.77 5.63 percent at $79.90 per barrel.
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