TOKYO: Japanese shares ended the morning session 1.63 percent lower on Tuesday as the weak euro weighed on exporters because of worries over the eurozone debt crisis and US economy.
The Nikkei index at the Tokyo Stock Exchange fell 139.15 points to 8,406.33 by the lunch break, edging up from the day's low of 8,359.24.
The Topix index of all first section shares lost 1.83 percent or 13.64 points to 733.47.
Several blue-chips also plunged, with Monex analyst Toshiyuki Kanayama saying weakness in bellwether names indicated selling by foreign investors.
Finance Minister Jun Azumi complained that the stock prices were not reflective of the fundamentals of Japan Inc.
"Tokyo share prices are too cheap considering the strengths of Japan's listed companies," Azumi told a regular press conference.
He then called for a swift passage of a rescue package for Greece, which could help stabilise the eurozone and ease the yen's strength against the euro.
"We are seeing an extremely high yen and a weak euro," Azumi said.
"The strong yen is casting a shadow of uncertainty over the corporate outlook and this is something that cannot easily be overcome by individual efforts," Azumi said.
"The sense of uncertainty cannot be wiped out unless (euro member states) clearly show to the market the process of swiftly implementing the assistance scheme for Greece."
Concerns over a slowdown in China and the eurozone crisis depressed exporters, shippers and trading houses.
"The effect from China's monetary tightening is starting to show in corporate results," said Naoki Fujiwara, fund manager at Shinkin Asset Management.
"I'm optimistic about China's growth and stability though, as the government is unlikely to 'drop the ball' with a government leadership change coming up next year," he added.
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