Japanese Stocks Close Lower on Omicron Fears

Japanese stocks closed lower on Monday with SoftBank Group leading losses as concerns over the fallout from the mutated Omicron from the coronavirus outweighed the positive impact of gains in technology heavyweights.

The Nikkei index fell 0.37 percent to close at 28,676.46 points, while the broader Topix index fell 0.45 percent to 1977.90 points.

And SoftBank, which specializes in investing in the technology industry around the world, fell 2.96 percent on the back of reports that Credit Suisse is seeking information through US courts, which could lead to legal action in Britain against the Japanese company to recover certain funds.

The volume of shares traded on the main index of the Tokyo Stock Exchange was 0.78 billion, compared to an average of 1.19 billion over the past 30 days.

Technology stocks rose, with chip-related Tokyo Electron and Advantest rising 2.09% and 0.83%, respectively. Games maker Sony Group rose 0.67 percent, while medical equipment maker Teromo rose 0.47 percent.