Stocks pulled back moderately on the Tokyo Stock Exchange Monday, after cutting much of the early losses, mainly in export-oriented names, traced to the yen’s rise versus the dollar.
The 225-issue Nikkei average slumped 62.20 points, or 0.37%, to end at 16,580.03.
The Topix index of all first-section issues lost 4.80 points, or 0.36%, to 1,332.43, after rising 5.42 points the previous day.
Notable decliners at the close of play comprised securities, mining and insurance-linked issues and the day's turnover was 1,826.7 billion US dollars.
Tokyo stocks fell almost across the board in early trading, as the dollar fell below 107 yen for the first time in a month, brokers said.
The yen’s strength reflected receding expectations of an early interest rate hike by the US Federal Reserve, after weaker-than-expected US government jobs data for May, released Friday.