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"Rising geopolitical risks are causing people to buy the dollar and sell stocks"
- Ayako Sera, a market strategist at Sumitomo Trust & Banking Co
Japanese stocks extended losses on Monday after death of North Korean dictator Kim Jong as investors sold equities on concern over regional stability. The Nikkei 225 shed 1.26%, or 105.60 points, to 8,296.12, while the broader Topix lost 0.99%, or 7.18, to 716.38.
"You can't take a risk because this incident could affect the balance of economic tensions that already exist in East Asia including Japan, China and South Korea," said Ayako Sera, a market strategist in Tokyo at Sumitomo Trust & Banking Co.
"Rising geopolitical risks are causing people to buy the dollar and sell stocks" in search of safety, added Mr. Sera.