Japanese stock indices close lower

Japanese stock indices closed lower on Monday, as investors averted risk.

The Tokyo Stock Exchange reported that the 225-issue Nikkei index closed marginally lower by 0.13%, or 49.14 points, at 38,354.09. The broader Topix index closed down by 0.36%, or 10.08 points, at 2,761.18.

Regarding the exchange rate, the US currency rose against its Japanese counterpart by nearly 0.8% to 147.24 yen in morning trading, while the yield on 10-year Japanese government bonds rose by more than one basis point to 1.412%. Chip sector stocks performed weaker than expected, with Screen Holdings, Tokyo Electron, and Advantest declining by 1.58 percent, 1.17 percent, and 1.23 percent, respectively. The sharp rise in oil prices, which reached a six-month high, deepened concerns about the economic outlook for Japan, which imports most of its oil.