Japan Stocks Drop Most Since May After Yen Strengthens

Japanese shares plunged, with the Nikkei 225 Stock Average falling the most since May, after the yen climbed a second day, outweighing better-than-expected machinery orders.

Canon Inc., a camera maker that gets 80 percent of its revenue outside Japan, slid 4.1 percent. Dai-Ichi Life Insurance Co. declined 2.9 percent from its highest close since May 2011. The measure of price momentum on the broader Topix Index remained above 70, a level some investors use as a sell signal, for a 19th day. That’s the longest streak since 1989. GS Yuasa Corp., a supplier of batteries to Boeing Corp., dropped 4.5 percent after All Nippon Airways Co. grounded its fleet of 787 Dreamliner aircraft.