The Nikkei index at the Tokyo Stock Exchange lost 1.00 per cent or 85.54 points to 8,433.59 in early trade on Thursday. The Topix index of all first section shares fell 0.82 per cent or 6.03 points to 730.95.
Market participants "are feeling uneasy about Italy", whose borrowing costs rose to a euro-era high at a bond auction Wednesday, said Yoshihiro Okumura, general manager at Chibagin Asset Management.
Italy paid its highest interest rate ever since the creation of the euro, raising 3.0 billion euros ($A3.95 billion) in five-year bonds at a rate of 6.47 per cent.
The news brought down European and US stocks, sending down the Dow Jones Industrial Average to close off 131.46 points (1.10 per cent) at 11,823.48.
The broader S&P 500 lost 13.91 points (1.13 per cent) to 1,211.82, while the Nasdaq Composite dropped 39.96 (1.55 per cent) to 2,539.31.
The European crisis kept pressure on the single currency in Asian trade, many players doubting the effectiveness of the measures from the recent EU summit.
The euro was trading at $US1.2991 and Y101.41, staying close to its 11-month-low, from $US1.2981 and Y101.26 in New York on Wednesday.
The US dollar bought Y78.06, nearly flat from Y78.08 in New York.
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