Japan’s Topix Falls as Investors Weigh U.S. Debt Impasse
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Japanese shares fell, with the Topix index extending its longest losing streak since July 2012, as the yen climbed amid concern about the standoff over the U.S. debt limit and government shutdown.
Toyota Motor Corp., Asia’s biggest carmaker, slipped 1.5 percent as Japan’s currency added to last week’s gains against the dollar. TV maker Sharp Corp. and utility Tokyo Electric Power Co. led declines on the Nikkei 225 Stock Average, falling 8.2 percent and 7.6 percent, respectively. SoftBank Corp. gained 2.9 percent after data showed NTT DoCoMo Inc., Japan’s largest mobile phone carrier, lost subscribers last month even after it started selling Apple Inc.’s iPhone.