Tokyo - Stocks fell in Monday in Tokyo, led down by banking shares, as investors showed caution over a pledge by world leaders to cut budget deficits while the yen strengthened against the dollar.
The benchmark Nikkei 225 Stock Average dropped 43.54 points, or 0,45 per cent, to close at 9,693.94, a two-week closing low. The broader Topix index was down 6.5 points, or 0.75 per cent, at 860.8.
At a meeting of the Group of 20 economies in Canada, world leaders vowed to cut budget deficits by half within the next three years.
On currency markets at 3 pm (0600 GMT), the dollar traded at89.34-37 yen, from Friday's 5 pm quote of 89.67-69 yen.
The euro traded at 1.2381-84 dollars, up from 1.2330-32 dollars Friday, and at 110.63-66 yen, up from 110.56-60 yen.
