Pessimism reigned Monday over prospects for the Tokyo stock market and the yen's value against the dollar.
The downtrend in Tokyo share prices continued unabated amid lingering worries over the vulnerability of Japanese industry to the Southeast Asian currency and stock market turmoil. The benchmark 225-issue Nikkei average, a 697.51-point loser Friday, fell 139.16 points to end the day at 15,697.20, the lowest close in 28 months.
Analysts blamed "Japan selling" for the falling share prices and the yen's weakness. The stock market remains obsessed with worries about the health of domestic financial institutions, said Akira Narumi, an analyst from Sakura Bank.