Oki Electric Industry Co. shares plunged the most in at least 37 years in Tokyo after the company said its Spain unit overstated accounts and it will miss the deadline for filing financial reports, prompting the Tokyo bourse to put the company on watch for possible delisting.
Japanese stocks fell the most in four weeks as President Barack Obama’s re-election set the stage for a budget showdown to avert the so-called fiscal cliff, and as China’s Communist Party convened to pick new leadership.
Japan’s Nikkei 225 Stock Average fell 90.47, or 0.9 percent, to 9,558.30 as of the close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Japanese stocks fell, with the Nikkei 225 Stock Average dropping the most in a month. Carmakers slid on speculation the yen will remain strong against the dollar as the U.S. Federal Reserve eases monetary policy.
Japanese stocks climbed, with the Nikkei 225 Stock Average reaching its highest in two weeks, on speculation policy makers in the U.S. and China will announce plans to stimulate the world’s largest economies and as machinery orders in Japan beat expectations.