Asian Stocks Slump on China Lending Concern, Infosys Earnings
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Asian stocks fell, dragging down the MSCI Asia Pacific Index by the most in a week, after China reaffirmed a commitment to lending curbs and India’s Infosys Technologies Ltd. reported worse-than-estimated profit.
Poly Real Estate Group Co. slumped 4.3 percent in Shanghai after China said it will “strictly” enforce policies preventing speculative real-estate investment. Infosys, India’s No. 2 software exporter, dropped 3.4 percent in Mumbai. Nissan Motor Co., which gets a third of its sales in North America, lost 1.5 percent, as Chinese stock declines drove the yen higher.