TOKYO: Japanese stocks fell, with the Topix index posting its biggest loss in 11 weeks. Exporters dropped as the yen gained for a second day after a selloff in U.S. shares.
Toyo Tire & Rubber Co. sank 7 percent after saying more of its rubber bearings used in buildings may not meet earthquake standards. Semiconductor maker Tokyo Electron Ltd. fell the most in five months. Exporters slid as the yen strengthened for a second day, with TDK Corp. leading losses. Energy shares rose as U.S. oil jumped after Saudi Arabia and its allies started bombing rebel targets in neighboring Yemen.
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The Topix dropped 1.5 percent to 1,568.82 at the close in Tokyo, the biggest loss since Jan. 6. All but two of its 33 industry groups fell. The Nikkei 225 Stock Average retreated 1.4 percent to 19,471.12. The yen gained 0.5 percent to 118.91 per dollar after data showing an unexpected drop in orders for American durable goods prompted some economists to lower forecasts for first-quarter U.S. growth. The Standard & Poor’s 500 Index sank the most in two weeks.
