Japanese stocks fell
for the first time in three days, led by energy companies as crude oil
resumed its rout amid concern that China’s economy is slowing.
The Topix lost 0.9
percent to 1,449.93 as of 9:02 a.m. in Tokyo, halting a rally of more
than 5 percent over the previous two days after the Bank of Japan
boosted stimulus. All but two of its 33 industry groups declined. The
Nikkei 225 Stock Average slipped 0.7 percent to 17,743.13. The yen
traded at 120.90 per dollar.
Mitsubishi UFJ
Financial Group Inc. dropped 1.4 percent, taking its loss this year to
25 percent, after reporting late Monday that third-quarter profit fell
27 percent. The result came after two days of declines in bank shares
following the BOJ’s surprise decision Friday to start charging lenders
0.1 percent for some of their deposits, a move that may crimp earnings.
The Topix Banks Index was down 21 percent this year through Monday’s
close.
Source : Bloomberg
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