Most Asian stocks dropped as Japanese exporters retreated after the yen's biggest surge in three years weighed on their earnings outlook. Japan's Topix index pared declines as the Government Pension Investment Fund held a briefing about proposed changes.

Nikkei 225 12,877.53 -26.49 -0.21%

S&P/ASX 200 4,737.7 -43.47 -0.91%

Shanghai Composite 2,210.9 -31.21 -1.39%

Honda Motor Co., which gets 83 percent of its sales overseas, slipped 3.9 percent.

Newcrest Mining Ltd. slumped 7.6 percent as Australia's biggest gold producer said it will write down the value of its mines by as much as A$6 billion ($5.7 billion).

Texhong Textile Group Ltd. surged 8 percent toward a record in Hong Kong after the fabric maker said earnings may jump.