However, market losses capped as yen depreciated to upper 136 level against greenback supported exporter shares.
The 225-issue Nikkei Stock Average index declined 29.52 points, or 0.11%, to finish at 27,423.96. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 4.38 points, or 0.22%, to 1,992.78.
Total 27 of 33 TSE sectors ended higher, with Iron & Steel, Securities & Commodities Futures, Construction, Pulp & Paper, and Fishery, Agriculture & Forestry issues being notable gainers, while Information & Communication, Other Products, and Retail Trade issues were notable losers.
Technology stocks declined, due to their sensitivity to higher rates. Chipmaking equipment maker Tokyo Electron and startup investor SoftBank Group were lower 1.9% and 2.3%, respectively.
Exporters advanced on the yen's depreciation, which boosts their overseas profits when repatriated. Among exporters, Mitsubishi Motors rose 2.4%, while Mazda Motor gained 1.6%.
ECONOMIC NEWS: Japan Leading Index Drops To 97.2 In December--Japan's leading index declined to a two-year low in December, as initially estimated, final data from the Cabinet Office showed on Monday. The leading index, which measures the future economic activity, dropped to 97.2 in December from 97.7 in the previous month. The coincident index that measures the current economic situation, also weakened to a 7-month low of 99.1 in December from 99.3 in the previous month. The flash score was 98.9. At the same time, the lagging index slid to 99.6 from 99.8 in the preceding month. The reading was revised from 98.9.
CURRENCY NEWS: Japanese yen was trading around upper 136 level against greenback. The dollar stood at 136.20 yen in late Tokyo trading Monday, down 0.1% from 136.46 on Friday, after trading in the range of 136.01-136.55.
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