The 225-issue Nikkei Stock Average ended down 27.99 points, or 0.19 percent, from Friday at 14,837.68. The broader
The market opened lower as investors moved to lock in profits from hefty gains on Friday when the Nikkei logged its second-largest single-day rise of the year of 416 points.
But shares rose later as the U.S. dollar edged up to the upper
But buying momentum lost steam once the dollar changed course and slipped to the lower end of the
"Once the Nikkei failed to recover to 15,000, those who were betting the index to rise above the threshold unloaded their holdings,"
Many players were sidelined as they waited for a clearer sign over the course of the economy ahead of a spate of U.S. and Japanese economic data due out later this week, as well as the testimony of U.S. Federal Reserve chief
"Players were reluctant to make bold moves," he said.
Insurers were the hardest-hit sector following news that
Export-oriented firms were sluggish, mostly giving up early gains.
Bucking the trend,
Declining issues outnumbered advancing ones 891 to 752 on the First Section, while 137 closed unchanged.
By sector, brokerage, real estate shares and land transport issues were other major decliners, while utility and rubber shares edged higher.
Trading volume on the main section came to 2,329.39 million shares, compared with Friday's 2,078.57 million shares.
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