The Japanese stock market is trading lower on Wednesday with weak machinery data and concerns about the political and economic situation in Greece weighing on sentiment to a notable extent. The yen's surge against the euro - it rose to the lower-102 level - also contributed to the weak start for stocks.
Automobile and bank stocks are mostly trading weak. Retail, shipbuilding and paper stocks are also drifting lower, while marine transport, steel, food and chemicals stocks are trading mixed.
The benchmark Nikkei 225 index, which declined to 8,825, is currently trading at 8,844, down 56.7 points or 0.6 percent from its previous close.
Nippon Suisan Kaisha, Chubu Electric Power, Yokogawa Electric Corp, Terumo Corp, Nikan Corp, Nippon Sheet Glass, Tokyo Gas, Fujitsu and Pacific Metals are trading lower by 2 to 5 percent.
Nomura Holdings, Nissan Chemical Industries, Kansai Electric Power, Bridgestone, Nissan Chemical Industries, Mitsubishi Materials, Sharp Corp, Resona Holdings and Showa Shell KK are also trading notably lower.
Among bank stocks, Shizuoka Bank, Bank of Yokohama and Chiba Bank are down 2 to 4 percent. Mizuho Financial is trading 1.8 percent up.
In the automobile space, Toyota Motor, Isuzu Motors and Honda Motor are down 1 to 2 percent. Mitsubishi Motor is trading modestly lower and Nissan Motor is trading flat. Mazda Motor is trading in positive territory, gaining nearly 2 percent.
Taiheiyo Cement shares are up 6 percent. Taiyo Yuden is gaining nearly 5 percent. Nippon Yusen KK, Nisshin Steel, Mitsui & Co, Kawasaki Kisen Kaisha, Mitsui Mining, Konami Corp, Fuji Electric and JFE Holdings are also trading notably higher.
According to data released by the Cabinet Office, core machine orders in Japan were down a seasonally adjusted 2.8 percent on month in March, beating forecasts for a contraction of 3.5 percent following the downwardly revised 2.8 percent increase in February.
On a yearly basis, core machine orders fell 1.1 percent - well shy of expectations for a gain of 4.4 percent after climbing 8.9 percent in the previous month. For the second quarter of 2012, core machine orders are expected to add 2.5 percent compared to the previous three months.
Meanwhile, an index measuring tertiary industry activity was down a seasonally adjusted 0.6 percent on month at 98.6 in March, the Ministry of Economy, Trade and Industry said. That missed forecasts for a contraction of 0.4 percent following the flat reading in February.
In the currency market, the U.S. dollar traded in the lower 80 yen range in early deals in Tokyo. The yen is currently trading at 80.35 to the dollar.
Among other markets in the Asia-Pacific region, Australia and Hong Kong are trading sharply lower with their benchmark indices losing 1.8 percent and 2 percent, respectively.
South Korea, Malaysia, New Zealand, Singapore and Taiwan are also down with notable losses, while Shanghai is trading modestly lower. Markets across the region ended mixed on Tuesday.
On Wall Street stocks ended weak on Tuesday after showing a lack of direction for much of the session, with worries about Greece weighing on the markets once again, overshadowing a batch of largely upbeat U.S. economic data.
The major averages moved roughly sideways going into the close and ended firmly in negative territory. The Dow drifted down 63.3 points or 0.5 percent to 12,632, the Nasdaq ended down 8.8 points or 0.3 percent at 2,893.8 and the S&P 500 dropped 7.7 points or 0.6 percent to 1,330.7.
Major European markets too ended lower on Tuesday. The German DAX index lost 0.8 percent, while the French CAC 40 index and the U.K.'s FTSE 100 index declined by 0.6 percent and 0.5 percent, respectively.
U.S. crude oil futures ended at a five-month low on Tuesday, amid demand growth concerns due to eurozone worries. The dollar's surge against other major currencies too contributed to oil's weak close. Crude for June delivery dropped $0.80 or 0.8 percent to close at $93.98 a barrel on the New York Mercantile Exchange.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.