Japan Stocks Fall as Toshiba Slides on New Accounting Problems

Japanese stocks fell for a second day after the Topix index posted its worst monthly loss in three years, as confidence waned that China will be able to prop up its markets amid slowing economic growth. Toshiba Corp. slid after saying it found new accounting problems.

The Topix slipped 2.5 percent to 1,499.32 at the trading break in Tokyo, after Monday capping its biggest monthly plunge since May 2012. The Nikkei 225 Stock Average fell 2.4 percent to 18,440.28. The yen traded at 120.74 per dollar after strengthening Monday for the first time in five days. The official gauge of China’s manufacturing industry fell to the lowest reading in three years as interest-rate cuts failed to revive old growth drivers.

Source : Bloomberg