MW: Asian markets drop; Tokyo stocks hover after GDP data
Japanese shares hovered around break-even Monday after economic data showed the economy slumped at its fastest rate in more than three decades, with Canon Inc. and Mitsubishi UFJ Financial Group among losers, while Nissan Motor Co. and NEC Electronics Corp. advanced. Other markets in the region declined, tracking a fall in U.S. stocks Friday. In Tokyo, the Nikkei 225 Average fell 0.8% to 7,720.92 and the Topix index rose 0.1% to 765.51, with both benchmarks changing direction at least once. Australia's S&P/ASX 200 fell 0.9% to 3,529 and South Korea's Kospi slipped 0.2% to 1,189.76. New Zealand's NZX 50 lost 1.5% to 2,710.67.
