Japan's Nikkei down 1.47% on first trading day of 2025
The broader Topix index settled 1.02 percent lower at 2,756.38 while the yen fell under pressure from higher U.S. Treasury yields.
Earlier in the day, a measure of Japan's service sector activity signaled rising prices and wages, potentially supporting a January BoJ rate hike.
The services sector in Japan continued to expand in December, and at a faster rate, the latest survey from Jibun Bank revealed on Monday with a services PMI score of 50.9.
That's up from 50.5 in November, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
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