Japan Stocks Fall on Bets of U.S. Rate Rise, Weaker Japanese GDP

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Japanese stocks fell after U.S. jobs data spurred speculation of an earlier interest-rate increase in the world’s largest economy, while a report showed Japan’s exit from a recession was weaker than previously reported.

Real-estate stocks led declines, with Mitsubishi Estate Co. dropping 1.9 percent. Mobile carriers retreated after Mizuho Financial Group Inc. downgraded NTT Docomo Inc., which fell 1 percent. Kyocera Corp. slid 0.5 percent as Reuters reported Microsoft Corp. was suing the electronic-parts maker over cell-phone patents. Japan Display Inc. jumped 4.2 percent after announcing it will build a factory to manufacture sixth-generation LCD panels.

The Topix Index slid 0.4 percent to 1,534.67 at the break in Tokyo, paring last week’s 1.1 percent gain. All but eight of its 33 industry groups fell. The Nikkei 225 Stock Average dropped 0.6 percent to 18,850.69. The yen traded at 120.85 after weakening 0.6 percent on Friday as U.S. stocks slumped the most in two months after nonfarm payrolls rose more than projected and the jobless rate sank to a seven-year low.

Source : Bloomberg