Japanese stocks decline for the second straight session due to the rise of the local currency Yen

Japanese shares ended trading on Monday in the first week's sessions lower, extending losses for the second straight session, with the decline of the shares of the affected export companies from the rise of the local currency yen.

The Nikkei ended down about 209.46 points or 1.25 percent to 16,544.56 points, and the Topix index fell 13.72 points or 1.02 percent to 1,335.84 points.

Japanese stocks last week posted a gain was the largest in three weeks, with the broad rise of the shares of banks and financial companies, which followed the decision of the Bank of Japan to keep interest rates unchanged, while some expected rate cut further into negative zone to support the recovery of the Japanese economy.

The Japanese yen rose by about 0.2 percent against the US dollar to trade at 100.85 yen per US dollar, in the absence of clear vision about the monetary policy that the Bank of Japan wants to implement in the near future.

The energy sector was one of the biggest losers on the Japanese market indices, with falling oil prices and the global markets ahead of an informal meeting for OPEC will be held in Algiers on the sidelines of an international energy conference in the period from 26 September until 28 September.

Futures for the S & P 500 fell 0.5 percent, and the index ended the Friday session on Wall Street, down by 0.6 percent, due to loss of energy and commodities companies.