TOKYO (dpa-AFX) - The Japanese stock market is trading sharply lower on Tuesday, extending the losses in the previous three sessions, following the mixed cues from Wall Street overnight, with the Nikkei 225 tumbling 2.4 percent to well below the 67,400 level, with weakness in technology partially offset by gains in automakers and financial stocks.
The benchmark Nikkei 225 Index is down 1,653.69 points or 2.40 percent at 67,377.23, after hitting a low of 67,351.76 earlier. Japanese shares ended slightly lower on Friday ahead of the holiday on Monday.
Market heavyweight SoftBank Group is tumbling almost 9 percent, while Uniqlo operator Fast Retailing is gaining almost 2 percent. Among automakers, Honda is gaining almost 1 percent and Toyota is adding almost 2 percent.
In the tech space, Advantest is declining almost 5 percent, Screen Holdings is sliding almost 6 percent and Tokyo Electron is tumbling almost 6 percent.
In the banking sector, Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are gaining almost 2 percent each, while Mizuho Financial is adding more than 1 percent.
The major exporters are mixed. Mitsubishi Electric is edging down 0.3 percent and Panasonic is losing more than 1 percent, while Sony and Canon are edging up 0.1 to 0.2 percent each.
Among the other major losers, Kioxia Holdings is plunging almost 12 percent and Taiyo Yuden is sliding more than 8 percent, while Kokusai Electric, Ibiden and Sumco are slipping more than 7 percent each. Socionext is declining almost 7 percent, while Resonac Holdings, Fujikura and TDK are losing almost 6 percent each. Furukawa Electric is down more than 5 percent, while Renesas Electronics and Mitsui Kinzoku are slipping almost 5 percent each.
Conversely, OKUMA is advancing more than 3 percent, while Dai-ichi Life, Kawasaki Kisen Kaisha and Nippon Express are gaining almost 3 percent each.
In economic news, producer prices in Japan were down a seasonally adjusted 0.3 percent on month in September, the Bank of Japan said on Tuesday. That was well shy of expectations for an increase of 0.5 percent following the downwardly revised 0.3 percent contraction in August (originally -0.2 percent). On a yearly basis, producer prices climbed 6.8 percent - again missing forecasts for an increase of 7.6 percent, which would have been unchanged
The Bank of Japan also said the total value of overall bank lending in Japan was up 5.3 percent on year in September, coming in at 681.974 trillion yen. That missed expectations for an increase of 5.5 percent and was unchanged from the August reading. For the third quarter of 2026, overall lending was up 5.4 percent.
In the currency market, the U.S. dollar is trading in the lower 158 yen-range on Tuesday.
On Wall Street, stocks turned in a lackluster performance during trading on Monday after ending last week's trading on an upbeat note. The major averages moved in opposite directions, eventually ending the day mixed.
While the Dow rose 195.60 points or 0.4 percent to 51,850.55, the S&P 500 edged down 4.30 points or 0.1 percent to 7,807.24 and the Nasdaq fell 120.27 points or 0.4 percent to 27,245.90.
Meanwhile, the major European markets have all moved to the upside on the day. While the U.K.'s FTSE 100 Index jumped by 1 percent, the German DAX Index increased by 0.8 percent and the French CAC 40 Index rose by 0.4 percent.
Crude oil prices moved sharply higher day on Monday in the wake of fresh attacks on Saudi Arabia's aviation infrastructure by Iran-backed Houthi militants. West Texas Intermediate crude for November delivery jumped $2.42 or 2.6 percent to $94.27 a barrel.
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