Japan’s Nikkei 225 Stock Average fell for the first time in three days as Italian borrowing costs surged, reigniting concern Europe’s debt crisis is spreading and damping the earnings outlook for Asian exporters. Turnover on the Tokyo Stock Exchange was the lowest this year.
Japanese stocks rose, driving up the Topix index for the first time in three days, as fiber makers and property developers advanced after brokerages boosted share- price targets and oil companies gained on the outlook for demand.
Japanese stocks fell the most in a month after Standard & Poor’s stripped France of its top credit rating and cut eight other European countries, fueling concern policy makers haven’t done enough to fight the debt crisis.
Most Asian stocks fell, dragging the MSCI Asia Pacific Index lower for the first time in three days, after Federal Reserve Chairman Ben S. Bernanke said the U.S. economic outlook remains “unusually uncertain.”
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 rose, reversing declines as carmakers and commodity traders advanced after reports showed improving consumer confidence in the U.S. and faster-than expected manufacturing growth in China.