Japanese shares fell, with the Topix index dropping from its biggest gain in two weeks, as commodities shares led losses following a decline in U.S. stocks.
The Topix index slipped 0.3 percent to 1,524.84 as of 9:09 a.m. in Tokyo, with 26 of the 33 industry groups falling. The measure posted its biggest gain since Dec. 17 on Monday on the lowest turnover in a year. The Nikkei 225 Stock Average lost 0.3 percent to 18,824.74. The yen traded little changed at 120.35 per dollar after falling for the first time in five days yesterday.
E-mini futures on the Standard & Poor’s 500 Index were unchanged. The underlying measure dropped 0.2 percent on Monday after resuming trading following a Christmas holiday. Energy companies resumed their familiar role as the market’s worst performers, while gains in Amazon.com Inc. and Walt Disney Co. helped mute declines.
Oil led a retreat among commodities Monday, sliding 3.4 percent from a three-week high as Iran repeated its goal of boosting exports after sanctions on the country are lifted. A drop in Chinese industrial profits also weighed on sentiment toward raw materials.
Source : Bloomberg