Japanese shares end lower amid stronger yen, US bank jitters

Japanese shares closed lower on Monday due to concerns over the US banking sector and a strengthening yen against the dollar. The Nikkei fell by 0.71% to 28,949.88, whereas the Topix index slid 0.21%. Furthermore, oil explorers and banks performed the worst in the Tokyo Stock Exchange’s sub-indexes, dropping1.71% and 1.27%, respectively. Meanwhile, SoftBank Group Corp, one of the biggest losers of the day, saw a decline in stock prices by 0.97%, as Uniqlo’s brand owner Fast Retailing Co Ltd fell by 3.13%. However, Itochu Corp rose by 1.35%, while Marubeni Corp edged up 0.1%.