Tokyo: Japan's stock markets declined on Monday amid a broad sell-off in long-term bonds, as renewed concerns about the country's fiscal outlook resurfaced ahead of this month's upper house elections. The benchmark 225-issue Nikkei Stock Average fell 223.20 points, or 0.56%, from Friday's close to settle at 39,587.68. The broader Topix index also lost ground, declining 16.23 points, or 0.57%, to finish at 2,811.72.
According to Qatar News Agency, among individual stocks, Yaskawa Electric plunged 10.29%, marking the biggest percentage loss on the Nikkei. The machinery manufacturer revised down its annual operating profit forecast on Friday, citing uncertainty in demand due to the impact of US tariff policy. In currency markets, the US dollar rose to the lower 145.05 yen range in Tokyo following largely directionless trading, amid a lack of fresh market-moving cues.
Meanwhile, the yield on 10-year Japanese government bonds (JGBs) climbed approximately 3 basis points to 1.463%, reflecting the bond market's negative sentiment.