Japan Shares Follow U.S. Stocks Lower After Yen Extends AdvanceJapan��s Topix index fell, heading for a second week of declines, as the yen gained after economic data in Europe and the U.S. missed expectations.

The Topix lost 1.5 percent to 1,160.77 as of 9:02 a.m. in Tokyo, with all 33 industry groups retreating. The measure is headed for a 0.4 percent drop this week. The Nikkei 225 Stock Average slid 1.5 percent today to 14,078.01. The yen climbed 0.1 percent to 101.50 per dollar, poised for a third day of gains.

Futures on the Standard & Poor��s 500 Index were little changed. The measure sank the most in a month yesterday as investors continued to sell small-cap shares and Wal-Mart Stores Inc. forecast profit that missed estimates.

The yen strengthened as weak data fueled haven demand. Industrial production in the U.S. unexpectedly declined in April, held back by a plunge in utilities as temperatures warmed and a broad-based decrease in manufacturing. Euro-area gross domestic product rose 0.2 percent in the three months through March, half as much as economists forecast.

Source : Bloomberg