Japan’s Topix Falls After BOJ Decision; Banks Lead Drop
This article is for subscribers only.
Japan’s Topix Index fell a second day after reaching its highest in two years last week as the Bank of Japan held off on expanding its asset-buying program and the nation’s economy unexpectedly contracted.
Mitsubishi UFJ Financial Group Inc., Japan’s biggest lender, retreated a second day to lead banks lower after reaching its highest since September 2009. Nippon Prologis REIT Inc. soared 24 percent on its trading debut. Meiji Machine Co. tumbled 15 percent after it was put on a watchlist for possible delisting. Taiyo Yuden Co. gained 16 percent after the maker of electronic components raised its profit forecast.