emirates7 - Japan’s Nikkei share average fell more than 3 percent while the yen traded above 160 per dollar on Monday on renewed concerns about technology valuations.

The benchmark Nikkei 225 Index fell 3.7 percent to 64,108.44 in early trading. The broader Topix slid 2.19 percent to 3,863.09.

The largest losers on the Nikkei were Ibiden, down 12.6 percent, followed by Screen Holdings, down 10.1 percent, and Sumitomo Electric, which lost 9.5 percent.