Japanese stocks dropped as investors assessed the global economic outlook after a gauge of US service sector activity fell to a five-month low.
The Topix fell 0.8% to 2,200.99 as of 9:02 a.m. Tokyo time, while the Nikkei declined 0.8% to 31,968.88. The yen extended gains against the dollar after strengthening 0.2% Monday.
Sony Group contributed the most to the Topix decline, decreasing 1.6%. Out of 2,157 stocks in the index, 229 rose and 1,738 fell, while 190 were unchanged.
"Uncertainty over the US economy and a lull in the yen's depreciation will weigh on the market," said Hideyuki Ishiguro, senior strategist at Nomura Asset Management.
Source : Bloomberg
