Japan Stocks Halt Four-Day Rally on Fiscal Cliff Concern
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Japanese shares fell, with the Nikkei 225 Stock Average halting a four-day rally, on concern U.S. lawmakers are making little progress on budget talks to avert the so-called fiscal cliff and after a technical indicator signaled the market may be overheating.
Mazda Motor Corp., an automaker that gets 28 percent of its sales in North America, dropped 2.3 percent. Alps Electric Co., a maker of electronic parts that gets about 74 percent of its revenue outside Japan, dropped 6.7 percent after the yen strengthened. Kawasaki Kisen Kaisha Ltd. led shipping lines lower after delaying expansion of its commodity-transport fleet.