Japanese Stocks Fall Most in Seven Months as Yen Rises
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Japanese stocks plunged, with the Topix index dropping the most in almost seven months after the yen climbed against the dollar, weakening the earnings outlook for exporters.
Japan Airlines Co. sank 4.6 percent to lead losses in the transport sector, which dropped the most among the 33 Topix index industry groups. Carmakers including Toyota Motor Corp. and Honda Motor Co. were among the biggest declines amid disappointing sales and vehicle recalls. Minebea Co. lost 5.2 percent, extending losses after at least two brokerages cut their ratings on the ball-bearing maker. Mitsui Fudosan Co. sank 4.8 percent to lead declines in the real-estate sector.