Japan’s Topix Falls Third Day as Data Boost Tapering Bets
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Japan’s Topix index fell for a third day, paring its weekly advance, as positive U.S. economic data increased speculation the Federal Reserve will start cutting stimulus next week.
A gauge tracking utilities lost 1.6 percent for the biggest drop among the 33 Topix industry groups. Nippon Telegraph & Telephone Corp. slid 1.7 percent after the government said it plans to raise 153.3 billion yen ($1.5 billion) by selling shares in the company. JVC Kenwood Corp. added 3.7 percent on a report the car-stereo maker will produce automotive resin panels in China.