Japanese stocks fell as a report showed Asia’s second-biggest economy fell back into recession and the yen rose as investors sought the safety of haven assets in the wake of the Paris terrorist attacks.
The Topix index lost 1.5 percent to 1,561.55 as off 9:01 a.m. in Tokyo as all of its 33 industry groups declined. The yen strengthened as foreign-exchange markets opened for the first time since the Nov. 13 attacks in Paris that killed at least 129 people. Data released in Tokyo showed Japan’s economy contracted an annualized 0.8 percent in the third quarter as company spending dropped, after gross domestic product shrank a revised 0.7 percent in the previous three months.
The Nikkei 225 Stock Average fell 1.4 percent to 19,317.88. The yen added 0.2 percent to 122.36 per dollar. E-mini futures on the Standard & Poor’s 500 Index declined 0.6 percent after the underlying gauge slumped 1.1 percent Friday.
The violence in one of Europe’s most heavily-policed cities may heighten investor concern about the global political and economic outlook. The dollar is often bought amid turmoil as the world’s reserve currency while Japan’s current-account surplus makes it attractive when investors seek safety.