Japan Exports Fall as China Sees World Slump

Japanese exports dropped more than forecast in October, Singapore said its growth may slow to 1 percent next year and China signaled the global economy faces an extended slide. The reports may raise pressure on policy makers in export- reliant Asia to implement further stimulus measures. Japan’s finance ministry reported today that shipments abroad fell 3.7 percent in October from a year before, the first drop in three months and an indication the nation’s rebound from the record March earthquake will slow. Stocks in Asia dropped, with the MSCI Asia Pacific Index down 1 percent as of 12:03 p.m. in Tokyo. Futures contracts on the U.S. Standard & Poor’s 500 Index retreated 0.8 percent after the congressional panel charged with forging a bipartisan fiscal-tightening plan signaled it likely will announce today a failure to reach an agreement by the Nov. 23 target date.