Japan stocks stumble; Suntory perks up on deal «
LOS ANGELES (MarketWatch) — Japanese stocks slid in early trading Tuesday, hurt after Wall Street sold off on concerns about further reduction in stimulus from the Federal Reserve. The Nikkei Stock Average /quotes/zigman/5986735/realtime JP:NIK -3.08% skidded 2.7% lower to 15,501.50, and the broader Topix slumped 2.3%, with stocks also hit as the U.S. dollar fell to around the 103-level against the yen, weaker than its level compared with the end of last week. Stock trading was closed Monday for a holiday. Bucking broader market losses Tuesday, shares of Suntory Holdings Ltd. /quotes/zigman/17381318/realtime JP:2587 +0.31% rose 1.1% following the company’s plan to buy spirits maker Beam Inc. /quotes/zigman/6577531/delayed/quotes/nls/beam BEAM -0.08% in a deal worth $16 billion. Beam’s lineup includes Jim Beam, Maker’s Mark and Sauza tequila.