Japanese stocks closed slightly lower on Monday as declines in the Paper & Pulp, Transport, and Communication sectors weighed on the broader market. The cautious trading sentiment pushed the Nikkei 225 index down by 0.10% by the end of the session in Tokyo.
Despite the overall decline, several stocks posted strong gains during the trading day. Ibiden Co Ltd was among the top performers, climbing 3.76% to close at 8,149.00. Dainippon Screen Manufacturing Co. also recorded notable gains, rising 3.66% to finish at 19,255.00. Meanwhile, SUMCO Corp. advanced 3.13%, ending the session at 1,616.00.
On the downside, Tokyo Electric Power Co. led the losses among Nikkei components, dropping 4.76% to close at 610.00. Isuzu Motors Ltd. followed with a decline of 4.37%, finishing the day at 2,385.50. Furukawa Electric Co. Ltd. also recorded a sharp fall, losing 4.19% to settle at 29,405.00.
Market breadth on the Tokyo Stock Exchange showed more declining stocks than advancing ones. A total of 2,071 shares ended lower, compared to 1,499 stocks that moved higher, while 239 shares remained unchanged.
Volatility also increased in the Japanese market. The Nikkei Volatility Index, which tracks the implied volatility of Nikkei 225 options, rose by 3.22% to reach 45.80.
In the commodities market, crude oil prices moved higher. U.S. crude oil for May delivery gained 0.51% to trade at $97.33 per barrel. Brent crude for May delivery climbed 1.25% to reach $104.43 per barrel.
Meanwhile, gold futures declined, with the April contract falling 0.85% to trade at $5,018.54 per troy ounce.
In the foreign exchange market, the USD/JPY pair slipped 0.30% to 159.25, while the EUR/JPY pair edged down 0.16% to 182.07.
The U.S. Dollar Index futures, which measure the dollar against a basket of major currencies, were slightly lower by 0.04%, trading at 100.07.
