Asia Stocks Drop Second Day as Topix Sinks; H-Shares Rise
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Asian stocks fell for a second day, following the biggest three-day rout in U.S. shares in more than two months, as health-care to technology companies retreated in Japan. Chinese equities rose.
Takeda Pharmaceutical Co. lost 5.2 percent after a U.S. jury ordered the Japanese drugmaker to pay $6 billion in punitive damages over claims it hid the cancer risks of its Actos diabetes medicine to protect billions of dollars in sales. SoftBank Corp. slid 4.5 percent and Yahoo Japan Corp. fell 3.3 percent in Tokyo. Great Wall Motor Co. climbed 6.8 percent, with the automaker leading gains among mainland Chinese stocks listed in Hong Kong.