Japanese stocks fell, after the Topix index posted its first weekly advance in 2015, as the yen gained amid official projections showing Greece™s anti-austerity Syriza party may get close to winning a majority.
The Topix slid 1 percent to 1,388.85 as of 9:00 a.m. in Tokyo after increasing 2.9 percent last week. All 33 industry groups retreated. The Nikkei 225 Stock Average declined 1.2 percent to 17,300.64. The yen added 0.3 percent to 117.41 per dollar after strengthening 0.6 percent on Jan. 23.
Syriza leader Alexis Tsipras said Greece™s era of bowing to international creditors is over, as he celebrated his party™s victory. While it remains unclear whether Syriza will be able to govern alone, the result hands Tsipras a mandate to confront Greece™s program of austerity imposed in return for pledges of 240 billion euros ($267 billion) in aid since May 2010.
Futures on the Standard & Poor™s 500 Index sank 0.8 percent. The underlying equity measure dropped 0.6 percent on Jan. 23, as weaker-than-forecast results at companies from United Parcel Service Inc. to Kimberly-Clark Corp. offset confidence that central banks will support global growth.