At closing bell, the 225-issue Nikkei Stock Average declined 204.44 points, or 0.71%, to 28,600.41. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 6.81 points, or 0.34%, to 1,995.42. Trading volume turnover on the main section stood at 1.04 billion shares worth 2.28trillion yen.
Total 22 of 33 industry groups of the Topix ended down, with worst performing sectors were Rubber Products (down 1.9%), Foods (down 1.3%), Information & Communication (down 1.2%), Insurance (down 1%), and Securities & Commodities Futures (down 1%), while best performing issues included Iron & Steel (up 3.1%), Mining (2.7%), Marine Transportation (up 1.7%), and Services (up 0.5%).
Investors were concerned that ruling Liberal Democratic Party likely to face an uphill battle in the national election on 31st October 2021 after loosing in one of two House of Councillors by-elections on Sunday. A wait-and-see attitude has strengthened in the market after the results of the by-election, amid a view that Prime Minister Fumio Kishida may face difficulty managing the government stably if the ruling parties fail to perform well.
CURRENCY NEWS: The dollar weakened to upper 113 yen level on Monday. The dollar stood at 113.63-63 yen, down from 113.88-89 yen on Friday. The euro was at 132.46-51 yen, down from 132.58-60 yen.
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