Nomura Hit Most by Brexit as Japan Banks Lead Asia Slump: Chart

Japanese banks and brokerages are among the worst hit in Asian trading following the U.K.’s vote to exit the European Union. Nomura Holdings Inc. and Daiwa Securities Group Inc. top the list, falling even more than London-based Standard Chartered Plc and HSBC Holdings Plc as the yen’s surge and deteriorating market sentiment bode ill for Japanese stocks. Nomura and Daiwa’s earnings prospects will suffer as people invest more cautiously and companies shy away from takeovers and fund raising, according to Koichi Niwa, a senior analyst at SMBC Nikko Securities Inc.

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