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.
The Board of Governors of the Academy of Motion Picture Arts and Sciences said Thursday it has picked anime director Hayao Miyazaki as one of three recipients of its Honorary Award this year. (Japan Times)
The National Police Agency and Ministry of Internal Affairs and Communications plan to assign an extra 3,000 officers over the next three years to deal with stalking and bank transfer fraud cases which are increasing. (Japan Today)
A Japanese district court ordered Tokyo Electric Power Co. on Tuesday to pay some 49 million yen in compensation over the suicide of an evacuee from the March 2011 nuclear accident at the company's Fukushima No. 1 power plant. (Jiji Press)