The Tokyo Stock Exchange stalled on Monday after seven consecutive sessions in the green, caught up in profit taking and cooled by the decline in Wall Street at the end of last week.
The flagship Nikkei index fell 0.77% to 27,699.25 points and the broader Topix index lost 0.65% to 1,943.21 points.
“Values have climbed for seven days in a row, which can lead to a good dose of selling” aimed at taking profits, commented Naoki Fujiwara of Shinkin Asset Management, quoted by the Bloomberg agency.
The Tokyo market also followed the New York Stock Exchange, which ended down on Friday, scalded by some disappointing company results and poor indicators raising fears of a deterioration in the economic situation.
In Hong Kong, the Hang Seng index lost 0.6% around 06:45 GMT.
On the side of values
SONY: Electronics giant Sony lost 2.66% to 11,705 yen. Sony, which is due to announce its 2022/23 first quarter results at the end of the week, had delivered a cautious forecast for the full year in May, due in particular to disruptions in supply chains, aggravated by confinements. in China.
Oil and currencies
Oil was down: around 06:40 GMT the price of a barrel of American WTI dropped 1.47% to 93.31 dollars and that of a barrel of Brent from the North Sea lost 1.27% to 101.89 dollars.
On the currency market, the yen started to fall again against the dollar, after regaining ground on Friday. A dollar was worth 136.32 yen around 06:50 GMT against 136.12 yen on Friday at 21:00 GMT.
The Japanese currency also fell against the euro, which was trading for 139.16 yen against 139.02 yen at the end of last week.
One euro was worth 1.0209 dollars, against 1.0213 dollars on Friday at 9:00 p.m. GMT.
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