Japan’s Topix Index Declines on Lenders, Property Shares
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Japanese shares fell, with the Topix index adding to back-to-back weekly declines, as the yen strengthened and consumer-finance and property companies slid.
Tokyu Fudosan Holdings Corp. sank the most on the Nikkei 225 Stock Average as real-estate shares dropped. Credit Saison Co., a non-bank lender, slumped 4.9 percent. Toyota Motor Corp., the world’s No. 1 carmaker, was the biggest drag on the Topix. Tokyo Electron Ltd. surged 5.3 percent after Applied Materials Inc., which will acquire the Japanese industrial-electronics maker in a stock swap, forecast sales that topped the low end of analysts’ estimates.