Japanese stocks fell as investors weigh China’s broadening equity rout and an ultimatum from European leaders that they will force Greece out of the currency union if a Sunday deadline isn’t met.
The Topix index lost 0.4 percent to 1,631.12 as of 9:01 a.m. in Tokyo, with all but seven of its 33 industry groups declining. The Nikkei 225 Stock Average dropped 0.4 percent to 20,287.11.
China is suffering its biggest stock rout since 1992 as leveraged investors exit the market despite government measures aimed at stemming losses. Greece has five days to submit a new set of reform proposals needed to earn more bailout aid and bring its economy back from the brink. European Commission President Jean-Claude Juncker said a scenario for Greece exiting the euro has been prepared.
Source : Bloomberg