Japanese Stocks Decline as Tankan Survey Misses Estimates
This article is for subscribers only.
Japanese stocks fell, with the Topix Index dropping the most since March 2011, as a central bank survey of manufacturer sentiment missed economists’ estimates and the yen climbed.
Mazda Motor Corp., the Japanese automaker with the highest proportion of exports, lost 4.3 percent. Panasonic Corp., the unprofitable electronics maker, dropped 3.4 percent after the Wall Street Journal reported a unit that makes entertainment and communications systems for airlines is under a bribery investigation by U.S. regulators. Nomura Holdings Inc. lost 4.3 percent after Japan’s biggest brokerage was sued by a trust over an alleged breach of contract involving $1.14 billion of mortgage-backed securities.