Topix Index Tumbles as Yen Rises, Consumer Lenders Slide
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Japan’s Topix index fell, erasing its weekly advance and capping a sixth week of declines, as the yen reversed losses and consumer lenders tumbled.
All but one of the 33 Topix industry groups retreated. Toyota Motor Corp., the world’s biggest carmaker, decreased 1.3 percent after rising as much as 1.1 percent. Aiful Corp. plunged 10 percent, pacing declines among consumer lenders, after saying it would not provide a full-year forecast as the outlook is “uncertain.” Kirin Holdings Co., Japan’s biggest beverage maker, tumbled 9.2 percent to lead declines on the Nikkei 225 Stock Average after its net-income forecast missed estimates.