Japanese stocks fall, tracking Wall Street losses

Japanese stocks closed lower on Monday as technology heavyweights led the decline after Wall Street slumped amid rising bond yields at the end of last week.

The Nikkei index fell 0.47 percent to 28,794.50 points, recouping some of its losses in early trading on the impact of China’s cut interest rates on lending.

The broader Topix index also fell 0.1 percent to 1992.59 points.

In Japan, chip maker Tokyo Electron fell 1.97 percent, robotics maker Fanuc fell 1.93 percent, and TDK fell 2.26 percent.

Hino Motors shares also fell 3.53 percent, becoming the worst performer on the Nikkei index, after the automaker announced that it was suspending shipments of some pickup trucks after confirming that a large-scale data fraud scandal involved those models.