Japan Stocks Fall Amid Quake Reconstruction, Greek Debt Woes
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Japan’s stocks fell to a three month low amid concern the government will scale back spending on disaster reconstruction and Greece’s debt crisis will worsen.
Canon Inc., a camera maker that counts Europe as its biggest source of revenue, slid 1.3 percent. Toyota Motor Corp., the world’s biggest carmaker, lost 0.6 percent. Shimizu Corp., Japan’s largest builder by market value, tumbled 6.7 percent. Tokyo Electric Power Co., owner of the nuclear plant crippled by March’s earthquake and tsunami, slumped 5.6 percent after the head of Japan’s banking lobby group said lenders won’t consider forgiving loans to the company.