Japanese stocks fell, with the Topix index extending its weekly drop, as the yen strengthened against the dollar and investors weighed earnings.
The Topix slipped 0.2 percent to 1,157.23 as of 9:02 a.m. in Tokyo, heading for a 2.1 percent weekly drop. Nineteen of the gauge��s 33 industry groups fell today, with brokerages leading declines. The Nikkei 225 Stock Average fell 0.4 percent to 14,109.93. The yen gained 0.1 percent to 101.60 per dollar after rising 0.2 percent yesterday. Most U.S. stocks fell as technology shares erased gains to slide a third straight day.
The Topix fell 11 percent this year as of yesterday, the most among major developed markets tracked by Bloomberg, as investors weighed whether Prime Minister Shinzo Abe and the central bank will foster a sustained economic recovery.
More than 300 companies on the Topix are scheduled to report earnings today, according to data compiled by Bloomberg.
Source : Bloomberg