Japanese shares fall ahead of earnings reports; rising yields weigh
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Japanese shares ended lower on Monday as investors grew cautious ahead of corporate earnings reports, while rising Japanese government bond yields weighed on sentiment. The Nikkei inched down 0.13% to close at 38,179.46, after slipping below the 38,000 level for the first time since May 2 earlier in the session. The broader Topix was down 0.15% to 2,724.08. "More local companies are set to announce their outlook but many of them are expected to be conservative so investors were cautious about buying stocks," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities. Mitsui Fudosan tanked 5.39% as the developer's annual net forecast was below market expectations. Peer Mitsubishi Estate fell 4.11%. The real estate sector lost 3.26% to become the worst performer among the Tokyo Stock Exchange's 33 industry sub-indexes. Chip-making equipment maker Tokyo Electron fell 1.03% to becom...