Asian Stocks Outside Japan Rise; Topix Drops on Yen Gains
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Asian stocks outside Japan rose to their highest level in five months. Japanese equities slid after the yen yesterday strengthened the most since August.
David Jones Ltd., Australia’s biggest department store by market value, surged 23 percent after agreeing to a takeover offer from South African retail chain Woolworths Holdings Ltd. Nissan Motor Co., which gets about 79 percent of its sales outside Japan, slid 2.6 percent. Mitsui O.S.K. Lines Ltd. retreated 5.5 percent in Tokyo as the world’s largest merchant-fleet operator sells convertible bonds.