Japanese shares fell on Monday as investors worried about the impact of the coronavirus outbreak on corporate earnings, though stocks of key oil exploration firms rose after major producers finally agreed their biggest-ever output cut.

The key Nikkei average dropped 0.8% at 19,349.74 by the midday break on subdued activity. The broader Topix fell 0.5% to 1,422.92, with three-fourth of the 33 sector sub-indexes on the exchange trading in negative territory.

The volume of shares traded on the main board valued at only 743 billion yen ($6.8 billion) by the midday recess - roughly half of normal value - largely due to the paucity of foreign investors due to the Easter holidays.

Source : Reuters