Japan Stocks Climb From Eight-Month Low as Global Selloff Eases
- Japan Tobacco plunges to post biggest drop on the Nikkei 225
- Topix falls 8.2% in September, worst monthly loss since 2012
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Japanese stocks rose, with the Topix index climbing from an eight-month low, as a global equity slump eased. Automakers provided the biggest support to the benchmark gauge after China cut taxes on car purchases.
Toyota Motor Corp. added 3.8 percent while Mazda Motor Corp. jumped 5.9 percent. Japan Tobacco Inc., Asia’s largest listed cigarette-maker, sank 6.7 percent after agreeing to buy the international rights to Reynolds American Inc.’s Natural American Spirit division for about $5 billion, or 286 times Natural American Spirit’s profit before income taxes in 2014.