Asian stock markets tumbled in risk-off trade on Wednesday, as mounting concerns over U.S. military action against Syria fuelled investor demand for safe haven assets.
Ongoing uncertainty over the timing of the Federal Reserve's widely expected reduction in monthly bond purchases also weighed. The Fed's stimulus program is viewed by many investors as a key driver in boosting the price of global equities.
In Tokyo, the Nikkei fell to a two-month low as the yen strengthened against the U.S. dollar, weighing on sentiment.
USD/JPY fell to hit a session low of 96.86, moving off the previous session's high of 98.34. A stronger yen reduces the value of overseas income at Japanese companies when repatriated, dampening the outlook for export earnings.
Automakers Toyota and Honda saw shares drop 2.3% and 2.4% respectively, while consumer electronics makers Sony and Sharp fell 3.5% and 2%.
Japanese megabanks were also lower with shares of the nation's largest lender Mitsubishi UFJ Financial Group shedding 2%, while Mizuho Financial Group and Nomura Holdings declined 1.5% and 3.5% respectively.
Index heavyweights Fast Retailing and Softbank saw shares drop 0.8% and 1.9% respectively.
Tokyo Metropolitan Police last week confirmed that a body discovered buried in a cemetery in Kanagawa Prefecture is that of a 25-year-old woman who went missing two years ago. Police are now attempting to locate her son, reports the Sankei Shimbun (June 26). (Tokyo Reporter)
Japan's traditional kendama ball-and-cup toy has been reborn as a new sport and is attracting attention around the world. Professional players demonstrate their highly sophisticated techniques on Internet video sites, and a world championship event was held last year featuring the first monetary prizes to be awarded for kendama in Japan. (The Japan News)
Police in Sapporo said Friday they have arrested an 18-year-old youth on suspicion of killing his 51-year-old father. - See more at: http://www.japantoday.com/category/crime/view/18-year-old-youth-arrested-for-killing-father#sthash.HiHL4HwN.dpuf (Japan Today)