Japan Stocks Head Lower as Yen Strengthens

Japanese stocks fell, with the Topix index headed for the first loss in five days, after the yen strengthened against the dollar as weak U.S. retail sales data added to signs the world’s biggest economy is slowing.

SKY Perfect JSAT Holdings Inc. tumbled 7.5 percent, the most on the Nikkei 225 Stock Average, after the broadcaster forecast net income that missed estimates. Takata Corp. slid 3.5 percent after Japan’s biggest carmakers said they would expand a recall because of Takata’s faulty air bags. Toshiba Corp. gained 2.6 percent after estimating a 50 billion yen ($420 million) reduction in operating profit for its last three fiscal years from an accounting probe, easing concerns of a larger impact.

The Topix lost 0.5 percent to 1,595.90 at the trading break in Tokyo, with about twice as many shares falling as rising. Volume on the measure was about 17 percent above the 30-day intraday average. The Nikkei 225 slid 0.6 percent to 19,656.28.

Bloomberg

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