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TOKYO (Reuters) - Concern that China Evergrande may default here on its mountain of debt hit shares of toilet maker Toto and other Japanese firms that are seen vulnerable to a further slowdown in China's property development….
Other potential suppliers to Chinese house builders and constructors were also caught in the melee, with air-conditioner manufacturer Daikin losing 4.7%.
Almost a quarter of Daikin’s air-conditioner sales came from China in the last financial year, compared with 13-16% in previous years.
Paint maker Nippon Paint Holding, for which China is by far the largest market, slid 7.5%.
Manufacturers of construction machines, which have long benefited from the construction boom in China, also suffered, with Komatsu losing 5.4% and Hitachi Construction Machinery shedding 5.5%.
Investors also dumped SoftBank Group, a big investor in Alibaba and other Chinese tech firms, on fears Beijing will continue to tighten its grip on them.
SoftBank Group shares lost 5.0% as U.S.-listed Alibaba shares hit a two-year low on Monday.