Japanese Market Notably Lower

(RTTNews) - The Japanese stock market is notably lower on Monday, its first trading day of the New Year, and the safe-haven yen strengthened following the weak cues from Wall Street Friday amid rising tensions between the U.S. and Iran after an airstrike by the U.S. last week killed Iranian military commander Qassem Soleimani.

The benchmark Nikkei 225 Index is losing 446.29 points or 1.89 percent to 23,210.33, after falling to a low of 23,208.30 earlier. The Japanese market was closed since last Tuesday for the New Year holidays.

Market heavyweight SoftBank Group Corp. is declining more than 2 percent and Fast Retailing is losing almost 3 percent.

In the tech space, Advantest and Tokyo Electron are lower by more than 1 percent each.

The major exporters are lower on a stronger yen. Mitsubishi Electric and Panasonic are losing more than 1 percent each, while Canon is lower by almost 1 percent and Sony is down 0.3 percent.
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