TOKYO, March 11 (Xinhua) -- Tokyo stocks closed significantly lower on Monday amid a strong yen and concerns for an overheated market following the overnight losses of tech-related shares in the Wall Street market.
Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 868.45 points, or 2.19 percent, from Friday to close the day at 38,820.49, the lowest level since Feb. 21.
The broader Topix index also pulled back sharply by finishing 59.97 points, or 2.20 percent, lower at 2,666.83.
Market watchers here noted that tracking the sharp declines of semiconductor-related stocks in the U.S. stock market over the weekend, Tokyo saw large declines in value-laden semiconductor-related stocks such as Tokyo Electron and Advantest. The Japanese yen rose to the mid-146 yen per dollar range on the forex market on Monday and export-related stocks such as Toyota Motor and Honda were widely sold.
Meanwhile, the prospect that the Bank of Japan might lift its negative interest rate policy in March continued to weigh on the equity market.
On the Prime Market, most shares declined, with those in mining, banking, securities and commodity sectors leading the losses.
Issues that declined outpaced those that gained by 1,397 to 232, while 27 ended the day unchanged. ■
