Japan Stocks Drop After Elpida Bankruptcy as Oil Retreats
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Japanese stocks fell after Elpida Memory Inc. filed for the biggest bankruptcy in two years and the yen strengthened. Oil declined and South Korea’s won advanced.
The Nikkei 225 Stock Average slid 0.9 percent as of 9:49 a.m. in Tokyo. The MSCI Asia Pacific Index slid less than 0.2 percent and Standard & Poor’s 500 Index futures were little changed. The won added 0.2 percent against the U.S. dollar, while the euro held a decline against most of its major peers. Oil dropped 0.5 percent to $107.99 a barrel.