After yesterday’s gains, Japan’s Topix index dropped, as profit forecasts disappointed investors before U.S. growth and data that are expected to provide clues about when the Federal Reserve will start reducing stimulus.
Toyota Motor Corp. (7203), the world’s biggest car manufacturer, fell 1.3 percent as its net-income projection did not correspond to estimates. Casio Computer Co., the watch and calculator maker, lost 2.9 percent after increasing its profit outlook less than analysts anticipated. Toray Industries Inc., the producer of carbon fibre used in Boeing Co.’s 787 Dreamliner, gained 5.7 percent after profit surged.
The Topix slid 0.6 percent to 1,184.73 at the close in Tokyo. All but four of the 33 industry groups fell, with volume 11 percent below the 30-day average. The Nikkei 225 Stock Average dropped 0.8 percent to 14,228.44. The U.S. releases gross domestic product data today and employment figures tomorrow.