Asian Stocks Drop as Yen Strengthens Ahead of U.S. Data

Asian stocks fell after the yen strengthened overnight and valuations on the regional equities gauge climbed to a six-month high, with investors awaiting U.S. jobs data this week that may provide further evidence as to when the Federal Reserve will reduce stimulus.

Toyota Motor Corp., Asia’s largest carmaker, sank 1.7 percent as Japan’s Nikkei 225 Stock Average retreated from a six-year high. Toppan Printing Co. lost 6.7 percent in Tokyo after saying it will sell 80 billion yen ($781 million) of convertible bonds. Speco Co. surged 5.7 percent, leading South Korean defense firms higher after two lawmakers said North Korean leader Kim Jong Un’s uncle Jang Song Thaek may have been dismissed as vice chairman of the National Defense Commission.