Japanese Market Modestly Lower

(RTTNews) - The Japanese stock market is trading modestly lower on Tuesday, reversing the gains in the previous two sessions, following he broadly positive cues from European markets and lack of cues from Wall Street overnight, with the Nikkei 225 falling below the 37,500 level, with weakness across most sectors led by index heavyweights, financial and technology stocks.

The benchmark Nikkei 225 Index is down 71.03 points or 0.19 percent at 37,460.50, after hitting a low of 37,411.68 earlier. Japanese shares ended significantly higher on Monday.

Market heavyweight SoftBank Group is edging down 0.1 percent and Uniqlo operator Fast Retailing is edging down 0.2 percent. Among automakers, Honda is edging down 0.2 percent and Toyota is edging down 0.4 percent.

In the tech space, Advantest and Screen Holdings are edging down 0.2 to 0.5 percent each, while Tokyo Electron is losing almost 1 percent.

In the banking sector, Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are losing almost 1 percent, while Mizuho Financial is edging down 0.1 percent.

The major exporters are mixed. Canon is edging down 0.2 percent and Panasonic is losing almost 1 percent, while Sony is gaining almost 1 percent and Mitsubishi Electric is edging up 0.5 percent.

Among the other major losers, there are no other major losers.

Conversely, Kawasaki Heavy Industries is gaining more than 4 percent.

In the currency market, the U.S. dollar is trading in the lower 142 yen-range on Tuesday.

On Wall Street, the markets were closed for Memorial Day on Monday after closing broadly lower on Friday.

The major European markets moved to the upside on the day. Germany's DAX climbed 1.68 percent and France's CAC 40 gained 1.21 percent. The UK market remained shut for Bank Holiday.