Japanese stocks fell, as the yen gained after the central bank refrained from boosting stimulus.
The Topix sank 0.3% and the Nikkei 225 Stock Average lost 0.2%.
The Bank of Japan will continue to expand the monetary base at a pace of 60 trillion yen to 70 trillion yen ($692 billion) per year, it said in a statement today, in line with the forecasts of economists.
Japan’s trade deficit shrank in April as slower consumer spending after the first sales-tax increase in 17 years dragged on imports. Inbound shipments rose 3.4% from a year earlier, the least in 16 months, the Ministry of Finance said. Exports increased 5.1%, leaving a deficit of 808.9 billion yen. Economists forecast a 646.3 billion-yen gap.
Mazda dropped 2.4% and Canon Inc. lost 1.3% amid yen’s rise.
Komatsu slid 3.1% after Caterpillar reported global sales fell 13% in the three months through April from the year-earlier period. Hitachi Construction Machinery Co. slumped 3.5%.
Nihon Enterprise plunged 8.8% to the lowest close since Oct. 23. The company cut its full-year net income forecast by 27% to 415 million yen.
Among stocks that rose, Inpex Corp. added 2.9% as energy explorers gained the most among the Topix’s 33 industry groups. Oil for July delivery advanced after data showed crude inventories slid in the U.S. Japan Petroleum Exploration Co. jumped 8% after SMBC Nikko Securities Inc. raised the company’s rating to outperform from neutral.
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