Japan’s government took control of Tokyo Electric Power Co., the center of the Fukushima nuclear disaster, and agreed to provide 1 trillion yen ($12.5 billion) as part of the nation’s largest bailout since the rescue of the banking industry in the 1990s.
Most Asian stocks fell, led by Japanese shares, after the country’s economy grew at the slowest pace in three quarters. The Shanghai Composite Index posted its biggest advance this month as China overtook Japan to be the world’s second-largest economy last quarter.
Japanese stocks fell, with the Nikkei 225 Stock Average declining the first time in five days, after China’s manufacturing teetered on the edge of contraction in July and as companies from Honda Motor Co. and Komatsu Ltd. missed profit estimates.
Most Asian stock markets rose, led by commodity producers as a forecast for faster European economic growth boosted confidence in a global recovery. Japanese shares fell on concern the yen trading near a 15-year high against dollar will erode the nation’s export earnings.