TOKYO (dpa-AFX) - The Japanese stock market is trading sharply lower on Tuesday, extending the losses in the previous session, following the mixed cues from Wall Street overnight, with the Nikkei 225 falling well below the 64,150 level, with weakness in index heavyweights and financial stocks.
The benchmark Nikkei 225 Index is down 801.20 points or 1.23 percent at 64,115.50, after hitting a low of 64,047.01 earlier. Japanese shares ended notably lower on Monday.
Market heavyweight SoftBank Group is tumbling more than 5 percent, while Uniqlo operator Fast Retailing is gaining more than 1 percent. Among automakers, Honda is edging up 0.5 percent, while Toyota is edging down 0.2 percent.
In the tech space, Advantest is edging up 0.2 percent, while Screen Holdings and Tokyo Electron are losing almost 2 percent each.
In the banking sector, Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are losing more than 1 percent each, while Mizuho Financial is declining almost 3 percent.
The major exporters are mostly lower. Mitsubishi Electric and Sony are losing almost 1 percent each, while Panasonic is declining almost 3 percent. Canon is edging up 0.1 percent.
Among the other major losers, Fujikura and Resonac Holdings are slipping more than 5 percent each, while Fuji Electric and Furukawa Electric are declining almost 5 percent each. Kyocera, Taiyo Yuden and Sumco are losing more than 4 percent each, while Trend Micro, Sumitomo Electric Industries, IHI and Tokai Carbon are down almost 4 percent each. SHIFT, OKUMA and NGK are sliding more than 3 percent each.
Conversely, there are no other major gainers.
In the currency market, the U.S. dollar is trading in the higher 158 yen-range on Tuesday.
On Wall Street, stocks moved back to the upside during trading on Monday following the sell-off seen during last Friday's session. Technology stocks helped lead the way higher, resulting in a notable rebound by the tech-heavy Nasdaq.
The Nasdaq ended the day well off its highs of the session but still jumped 290.85 points or 1.1 percent to 26,430.89. The S&P 500 also climbed 31.29 points or 0.4 percent to 7,690.73, while the narrower Dow bucked the uptrend and edged down 36.38 points or 0.1 percent to 51,966.03.
Meanwhile, the major European markets all moved notably lower on the day. While the German DAX Index tumbled by 1.2, the French CAC 40 Index and the U.K.'s FTSE 100 Index both slumped by 1.1 percent.
Crude oil prices jumped again on Monday on escalating Middle East conflicts and regional supply fears. West Texas Intermediate crude for November delivery was up $2.56 or 2.52 percent to $103.97 per barrel.
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