TOKYO: Japan’s Nikkei share average slumped to a fifth straight losing session on Monday – its longest streak this year - weighed down by a stronger yen and weakness on Wall Street last week.

The Nikkei slid 0.61% to close at 32,189.73, in a volatile session that saw the index rise as much as 0.53% in the morning and then drop 1% in the afternoon.

The index has retreated 4.63% since closing at a 33-year peak of 33,753.33 a week earlier.

Japan’s Nikkei slumps for fourth straight session on Fed tightening concerns

Of the Nikkei’s 225 components, 150 fell, while 73 advanced and two were flat.

Energy was the only sector that rose, following crude oil’s $2 surge to a nine-week high on Friday, while the basic materials sector recovered early declines to end flat. Healthcare stocks paced decliners, falling 1.34%.

The broader Topix skidded 0.51% to 2,243.33.

The Nikkei rallied 27% since mid-March to hit last week’s high. It dropped below the closely watched 25-day moving average on Thursday for the first time in three months.

“Whether or not the Nikkei can recover above the 25-day moving average in a short time is a focal point for the market,” said Nomura Securities strategist Maki Sawada.

U.S. stock futures were a key trading cue for Japanese traders on the day, she added.

S&P 500 E-mini futures pointed to a 0.48% lower restart, after the index declined 0.29% on Friday.

The Nikkei’s worst-performing stock was Yaskawa Electric, which dived 3.44% after reporting disappointing financial results as the Japanese earnings season gets underway.

Automakers also underperformed after Japan’s currency strengthened about 2 yen against the dollar on Friday, lowering the value of overseas revenue.

Nissan lost 2.55%, while Honda declined 1.72%.

Chip-related shares also fell, with Tokyo Electron off 1.5% and Advantest tumbling 2.5%.