Asian Markets Trade Mixed as The Yen Explodes Against the Greenback

Asian boards 

S&P Futures

“Most Asian stocks fell as the yen at its highest in almost a month versus the U.S. dollartempered the outlook for Japan’s exporters after a better-than-expected U.S. manufacturing report.

Honda Motor Co. (7267) and Toyota Motor Corp. were among the biggest drags on the MSCI Asia Pacific Index as the yen advanced, damping their earnings outlook. Metcash Ltd. , an Australian grocery distributor, dropped 3.5 percent after announcing store closures and job cuts. Billabong International Ltd., a surfwear maker that gets about 50 percent of revenue from the Americas, advanced 1.1 percent in Sydney.”

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