Japan Stocks Fall to Two-Month Low as Utilities Slump
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Japanese shares declined, with the Nikkei 225 Stock Average falling below 13,000 for the first time in two months, as utilities and exporters slumped. A gauge of small-cap stocks fell the most since after the 2011 earthquake.
Tokyo Electric Power Co., owner of the stricken Fukushima Dai-Ichi nuclear plant, fell for a second day to lead utilities lower. Sharp Corp., which gets 60 percent of its sales outside of Japan, dropped 5 percent on a stronger yen. Komatsu Ltd. slid 3.9 percent as machinery stocks declined. The Tokyo Stock Exchange Mothers Index of smaller companies tumbled 13 percent for its biggest drop since March 14, 2011.