Japanese Shares Fall on Stronger Yen Amid U.S. Shutdown
This article is for subscribers only.
Japan's Topix index fell for a fourth day as the yen gained against the dollar amid the U.S. government shutdown and investors weighed Prime Minister Shinzo Abe’s sales-tax increase and stimulus plan.
Honda Motor Co., which gets about 80 percent of sales abroad, slipped 1.5 percent. Pacific Metals Co., which derives 96 percent of revenue from nickel, dropped 6.2 percent after Bank of America Merrill Lynch cut its outlook for the metal. SoftBank Corp. advanced 4 percent after Goldman Sachs Group Inc. said new iPhone sales at competitor NTT DoCoMo Inc. may be more affected by inventory shortages than at other Japanese carriers.