Japanese stocks fell as growing military tension between Turkey and Russia drove the yen higher, damping the earnings outlook for exporters. Airlines led losses, while commodity producers gained.

The Topix index dropped 0.5 percent to 1,597.80 as of 9:01 a.m. in Tokyo, headed for its first loss in more than a week. The Nikkei 225 Stock Average lost 0.5 percent to 19,833.35, falling from a three-month high. The yen traded at 122.50 per dollar after strengthening 0.3 percent Tuesday following Turkey’s downing of a Russian fighter jet that it claims was violating its airspace.

Turkey shot down the plane near its border with northwestern Syria early Tuesday, drawing an angry rebuke from Russian President Vladimir Putin and marking the first direct clash between foreign powers embroiled in the Syrian civil war. Oil prices jumped and the yen climbed.

Source : Bloomberg