The Japanese stock market closed lower, primarily driven by declines in financial and heavy machinery stocks. This downturn was influenced by ongoing political uncertainty ahead of the upcoming general election in Japan.
Resona Holdings saw its shares fall by 1.9%, while IHI experienced a 4.5% decline. The Nikkei 225 index dropped by 0.1%, ending at 38,954.60 points. Investors are closely monitoring developments related to the parliamentary elections, as well as movements in the domestic earnings season starting later in the week.
The 10-year Japanese government bond yield decreased by 1 basis point to 0.955%. Meanwhile, the USD/JPY exchange rate was at 149.43, compared to 149.52 in the late New York market last Friday.
