TOKYO: Tokyo stocks fell 0.83 percent on Monday, following falls on Wall Street last week due to poor economic data and amid worries over Spain and the eurozone crisis.
The Nikkei 225 index at the Tokyo Stock Exchange closed down 73.65 points at 8,796.51, while the Topix index of all first-section issues slipped 0.69 percent, or 5.07 points, to 732.35.
US stocks were stuck in the red Friday, the last trading day of the third quarter, after disappointing business activity and consumer spending reports fuelled concerns about the economy.
The latest US economic data were "not encouraging", Hiroichi Nishi, general manager of equities at SMBC Nikko Securities, told Dow Jones Newswires.
The downbeat start to Tokyo trade also came shortly after a quarterly Bank of Japan survey showed confidence among large Japanese manufacturers worsened in the quarter ended September.
But traders largely ignored the survey results which were in line with market expectations, brokers said.
The dollar was at 77.95 yen in Asian afternoon trade compared with 77.88 yen in New York late Friday.
The euro changed hands at $1.2857 and 100.19 yen against $1.2856 and 100.12 yen amid worries about Spain.
After four years fighting the markets and a mushrooming economic crisis, Madrid appears finally poised to cave in and apply for a sovereign bailout.
The economic descent has accelerated in the past few days amid increasing anti-austerity protests.
Submitting an austerity budget to parliament, Spain's government said Saturday its public debt and deficit are set to rise well above previous forecasts amid the country's financial woes.
Toyota lost 1.67 percent to 2,989 yen with Nissan down 1.50 percent at 655 yen amid concerns over auto sales in China as diplomatic tensions continue between Tokyo and Beijing over disputed East China Sea islands. (AFP)
