Asian stock markets tumbled in risk-off trade on Wednesday, as mounting concerns over U.S. military action against Syria fuelled investor demand for safe haven assets.
Ongoing uncertainty over the timing of the Federal Reserve's widely expected reduction in monthly bond purchases also weighed. The Fed's stimulus program is viewed by many investors as a key driver in boosting the price of global equities.
In Tokyo, the Nikkei fell to a two-month low as the yen strengthened against the U.S. dollar, weighing on sentiment.
USD/JPY fell to hit a session low of 96.86, moving off the previous session's high of 98.34. A stronger yen reduces the value of overseas income at Japanese companies when repatriated, dampening the outlook for export earnings.
Automakers Toyota and Honda saw shares drop 2.3% and 2.4% respectively, while consumer electronics makers Sony and Sharp fell 3.5% and 2%.
Japanese megabanks were also lower with shares of the nation's largest lender Mitsubishi UFJ Financial Group shedding 2%, while Mizuho Financial Group and Nomura Holdings declined 1.5% and 3.5% respectively.
Index heavyweights Fast Retailing and Softbank saw shares drop 0.8% and 1.9% respectively.
Japan plans to boost financial aid to developing countries to help them tackle climate change by providing about ¥1.3 trillion (about $10.6 billion) a year by 2020, Prime Minister Shinzo Abe said on Thursday. (The Japan News)
The Japanese government plans to tighten its energy-efficiency standards for lamps to effectively ban production and imports of fluorescents and incandescents, informed sources said Thursday. (Jiji Press)
Japan stayed bottom among 32 comparable Organization for Economic Cooperation and Development member states in public spending on education for the sixth straight year in 2012, an OECD survey has shown. (Jiji Press)
A 60-year-old man in Tochigi Prefecture, northeast of Tokyo, who claims to be an exorcist was arrested Thursday on suspicion of killing a diabetic boy by halting the administration of insulin, police said. (Japan Today)
Police and animal protection center officials captured the last of two emus, an ostrich-like bird from Australia, that escaped from a farm in Takasaki, Gunma Prefecture, earlier this month. (Japan Times)
Tokyo Metropolitan Police have arrested the head of an adult video (AV) label specializing in productions featuring gay men for employing an underage male actor, reports Nippon News Network. (Tokyo Reporter)
Fukuoka Prefectural Police on Wednesday will re-arrest an upper-ranking member of the Kudo-kai organized crime group for participation in two arson attacks, reports the Sankei Shimbun. (Tokyo Reporter)
Three bodies have been retrieved from a boat found floating in the Sea of Japan off the coast of Fukui Prefecture on Sunday, two days after a similar discovery in waters off a neighboring prefecture, reports the Yomiuri Shimbun (Nov. 23). (Tokyo Reporter)