Asian Stocks Plunge as Japan’s Topix, Nikkei 225 Tumble

Asian stocks retreated, with Japan’s Topix index and Nikkei 225 Stock Average entering so-called corrections, as commodities fell and the yen strengthened, damping the earnings outlook for Japanese exporters

Honda Motor Co., which gets 83 percent of sales from overseas, sank 3.4 percent, pacing declines among Japanese exporters. BHP Billiton Ltd., the world’s biggest mining company and Australia’s No. 1 oil producer, lost 1.2 percent as crude and copper futures traded near the lowest levels in at least two weeks. Langham Hospitality Investments Ltd., a hotel operator, slumped 9.2 percent on its first trading day in Hong Kong. Nikkei 225 Stock Average futures jumped in after-hours trading after Reuters reported Japan government pension fund is discussing changing its portfolio mix to allow more equity investment.