Japanese Stocks Fall as Exporters Drop on Yen

Japanese stocks fell after markets reopened from holidays, with exporters declining as weak U.S. economic data sent the yen higher and investors weighed earnings.

Nissan Motor Co., which gets about 78 percent of revenue abroad, slumped 2 percent. Airlines sank the most among the 33 Topix industry groups after oil extended gains on Wednesday. Benesse Holdings Inc. plunged 18 percent after the provider of educational services forecast a wider loss. Dai-ichi Life Insurance Co. added 3.2 percent after its preliminary earnings report showed stronger-than-expected profit.

The Topix index slid 0.5 percent to 1,577.15 as of 12:30 p.m. in Tokyo, as shares traded for the first time since May 1. The Nikkei 225 Stock Average lost 1 percent to 19,338.10. The yen held three days of gains, trading at 119.48 per dollar after private data on U.S. employment missed estimates.

Bloomberg

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