Japanese Stocks Drop on Europe Crisis Deadlock, China
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Japanese stocks fell, with the Nikkei 225 Stock Average close to erasing its gain this quarter, on concern that the outlook for exporters is dimming amid slower growth in China and squabbling by European policy makers.
Brother Industries Ltd., an office-equipment maker that gets almost 30 percent of sales from Europe, dropped 2.5 percent. Komatsu Ltd., a construction machinery maker that gets 14 percent of its sales from China, lost 1.6 percent after a private report showed a drop in optimism in the world’s second largest economy. Renesas Electronics Corp. surged by its daily limit on speculation a Japanese state-backed fund may counter a KKR & Co. offer in a bid for the chipmaker.