Topix Falls First Time in Six Days as Syria Tension Boosts Yen
- Turkey shoots down Russian fighter jet near Syrian border
- Exporters, brokers and mega banks lead Japanese losses
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Japanese stocks fell as growing military tension between Turkey and Russia drove the yen higher, damping the earnings outlook for exporters. Brokers and banks led losses, while utilities and commodity producers gained.
The Topix index dropped 0.7 percent to 1,594.67 at the close in Tokyo, its first loss in more than a week, as megabanks Mitsubishi UFJ Financial Group Inc., Mizuho Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. contributed most to the gauge’s decline. The Nikkei 225 Stock Average lost 0.4 percent to 19,847.58, falling from a three-month high. The yen strengthened for a second day following Turkey’s downing of a Russian fighter jet that it claims was violating its airspace.