TOKYO, Dec. 16 (UPI) -- Stock prices on the Tokyo Stock Exchange fell for the ninth consecutive session Monday, their longest losing streak since 1991, as Wall Street's decline on Friday and the yen's recent rise added to continuing pessimism on Japan's economic outlook.
Japan's blue-chip Nikkei Stock Average, which fell 192.62 points Friday, lost another 65.13 points, or 0.8 percent, to 8,450.94. The Nikkei has lost 754.17 points, or 8.2 percent, in the past nine sessions.
The broader Topix Index, which lost 15.55 points in the previous session, fell 7.95 points, or 1 percent, to 827.82.
Declines outgunned advances, 1,124 to 261, while another 111 issues settled unchanged.
Volume dropped to an estimated 663.21 million shares from 1.28 billion shares changing hands on Friday. Trading volume Friday was boosted chiefly by transactions related to the expiration of March futures and options contracts.
Tech and other exporters led declines on the yen's appreciation, while defensives, such as drug and utilities stocks, gained.
In a market bereft of hopeful news lately, some investors took a reported drop in the approval rating of Prime Minister Junichiro Koizumi's administration as a positive sign, expecting that will add more pressure on the government to revive the economy.
The Koizumi administration's approval ratings fell to 54 percent in the latest survey by the Asahi Shimbun, reported over the weekend, from 65 percent in November.
With the dollar tumbling below 121 yen recently, exporters were among the day's losers. Among them, Sony fell 1 percent while Tokyo Electron lost 2.3 percent.
Banks remained under pressure, reflecting ongoing concerns about their financial strength. UFJ Holdings fell 1 percent, Mizuho Holdings lost 1.9 percent and Mitsubishi Tokyo Financial Group lost 1.1 percent.
Despite the yen's strength, which cuts into the value of the overseas earnings of Japanese exporters when translated into local currency terms, major auto shares ended the day mixed.
Toyota Motor finished flat, Nissan Motor slipped 0.7 percent, Honda Motor rose 0.9 percent and Mitsubishi Motors added 1.9 percent.
In the pharmaceutical sector, Takeda Chemical Industries rose 0.6 percent, Yamanouchi Pharmaceutical rose 1.2 percent and Sankyo added 4.4 percent.
Elsewhere in Asia, prices ended at their lowest level in one month on the Hong Kong Stock Exchange. The blue-chip Hang Seng Index, which lost 85.35 points during the previous session, fell 71.97 points, or 0.7 percent, to 9,656.46, its lowest close since Nov. 13.
In trading, China's largest personal computer maker Legend Group fell 3.5 percent, Hong Kong's dominant fixed line operator PCCW Ltd. fell 1.6 percent, China's largest cellular carriers, China Mobile and China Unicom, slipped 1.5 percent and 1.7 percent, respectively.
Prices ended lower on the South Korean Stock Exchange. The Korean Composite Stock Price Index, or Kospi, which lost 7.25 points during the previous session, lost 15.71 points, or 2.2 percent, to 692.42.
Market sentiment was hit by concerns over North Korea's decision to reactivate a nuclear power plant, as well as uncertainties ahead of Thursday's presidential election.
Investors are paying close attention to the election, which is a race between liberal candidate Roh Moo-hyun and conservative opposition head Lee Hoi-chang. The results could turn on whether the country's voters prefer a soft approach or a tough line on their neighbor North Korea's quest for nuclear arms, according to a local media report.
In trading, technology bellwether Samsung Electronics dropped 3.7 percent and semiconductor parts maker Mirae lost 1.3 percent.
Prices also ended lower on the Taiwan Stock Exchange. The Weighted Price Index eased 6.09 points, or 0.1 percent, to 4,582.05.
Taiwan Semiconductor Manufacturing lost 1.6 percent while United Microelectronics fell 3.4 percent.
Elsewhere around the Pacific region, prices ended lower on the Australian Stock Exchange. The blue-chip All Ordinaries Index, which eased 14.50 points during the previous session, lost another 19.30 points, or 0.7 percent, to 2,921.90.
