Asian Stocks Snap Six-Day Rise Ahead of U.S. Jobs Report
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Asian stocks dropped, snapping a six-day advance and paring the regional benchmark index’s biggest weekly gain since July, as investors await the monthly U.S. jobs report.
Sumitomo Realty & Development Co. lost 1.4 percent as Japanese developers retreated ahead of a decision this weekend on whether Tokyo will host the 2020 Olympics. SoftBank Corp. fell 2.2 percent after competitor NTT DoCoMo Inc., Japan’s largest mobile-phone carrier, was said to be near an agreement to offer Apple Inc.’s iPhone. BBMG Corp. rose 2.6 percent in Hong Kong after the cement maker announced a share sale.