Asian stocks fell, with the equity gauge excluding Japan posting its first drop in eight days, as signs the U.S. economy is strengthening fueled speculation that the Federal Reserve will soon start tapering stimulus.
Japanese stocks rose, with the Nikkei 225 Stock Average climbing to an almost six-year high, as the yen fell to the lowest since May versus the dollar after data showed U.S. manufacturing unexpectedly accelerated last month.
Fisker Automotive Inc., whose $103,000 plug-in hybrid car was driven by celebrities including Justin Bieber, filed for bankruptcy with plans to be acquired by a group said to include Richard Li, son of Hong Kong’s richest man.
Nissan Motor Co. Chief Executive Officer Carlos Ghosn said consumers won’t take to fuel-cell vehicles before the decade’s end, joining Tesla Motors Inc.’s Elon Musk in questioning the future of hydrogen-powered cars.
Hyundai Motor Co., eager to move ahead of Honda Motor Co. and Toyota Motor Corp. in hydrogen- powered vehicles, plans a $499-a-month U.S. lease for its zero- emission Tucson crossover version that arrives in 2014.
Tesla Motors Inc. cars have caught fire after collisions more often than gasoline-powered vehicles, according to a Massachusetts Institute of Technology report rebutting assertions by Elon Musk, the electric-car maker’s chief executive officer.