Asian Stocks Decline for Fifth Day Ahead of Fed Minutes
This article is for subscribers only.
Asia’s benchmark stock index fell for a fifth day to trade at the lowest level in six weeks before the release of minutes of the Federal Reserve’s July meeting.
BHP Billiton Ltd. sank 2.2 percent in Sydney after the world’s biggest mining company reported a drop in second-half profit amid slowing growth in emerging economies. Tokyo Electric Power Co. tumbled 9.3 percent after Japan’s Nuclear Regulation Authority said it plans to increase the severity level of a radiated water leak at its Fukushima plant. Cnooc Ltd. surged 4.9 percent in Hong Kong after China’s largest offshore oil and gas explorer posted a bigger-than-estimated increase in first-half profit.