Japanese stocks fell for the first time in three days, led by property developers and tiremakers.
The Topix lost 0.2 percent to 1,502.72 as of 9:02 a.m. in Tokyo, with eight stocks falling for every seven that rose. The gauge is up 6.5 percent in October, heading for its biggest monthly gain since February, amid a rebound in global equities ahead of Monday’s release of Chinese economic growth, industrial production and retail sales data. The yen traded at 119.30 per dollar.
Stocks around the world have been rallying throughout October, restoring more than $4 trillion to the value of the global equity market. That came after last quarter’s volatility triggered by China’s surprise decision in August to devalue the yuan.
Source : Bloomberg