Most Japan Shares Drop as Topix Index Retreats From 11-Week High

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  • Paper makers decline, while banks and drug stocks advance
  • 51% of Topix companies this earnings season beat estimates

An afternoon rally in Japanese stocks couldn’t stop the Topix index retreating from an 11-week high after the OECD trimmed its global economic growth forecasts. Paper makers led losses, while banks and pharmaceutical shares advanced.

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