Asian Stocks Decline as Japanese Exporters Drop on Yen
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Asian stocks dropped, with the regional benchmark index heading for its longest streak of weekly losses in a year, as Japanese exporters retreated after the yen’s biggest surge in three years.
Japan’s Topix index and Nikkei 225 Stock Average pared declines as the Government Pension Investment Fund called a briefing about proposed changes to its asset portfolio. Honda Motor Co., which gets 83 percent of its sales overseas, slipped 3.9 percent. Newcrest Mining Ltd. slumped 7.6 percent as Australia’s biggest gold producer said it will write down the value of its mines by as much as A$6 billion ($5.7 billion).