NEW YORK, Nov 8 (Reuters) - U.S.-listed shares of Japanese companies tumbled on Thursday as worse-than-expected domestic machinery orders figures increased concerns that Japan’s economy was slipping into recession and as strength in the yen weighed on major exporters like Toyota Motor Corp.
New York-listed shares of Toyota Motor lost 1.6 percent to $78.43, after falling as low as $78.27 earlier. Canon Inc fell 1.3 percent to $31.07.
In Japan, the Nikkei stock average fell 1.5 percent to a three-week closing low on Thursday. The yen gained on worries that the U.S. ‘fiscal cliff’, a mix of mandated tax increases and spending cuts due to extract some $600 billion from the U.S. economy in the new year, could push the United States and possibly the global economy into recession.
The BNY Mellon index of leading American depositary receipts fell 0.8 percent, while the Standard & Poor’s 500 index lost 0.9 percent.
The BNY Mellon index of leading Asian ADRs lost 0.7 percent. Other Asian markets also fell, including South Korean shares snapping a two-day winning streak on Thursday. Hong Kong shares suffered their worst loss since July 23, as investors took profits and refocused their attention on the prospect of U.S. fiscal woes roiling financial markets.
The BNY Mellon index of leading European ADRs fell 0.6 percent and the BNY Mellon index of leading Latin American ADRs fell 1.7 percent.