Asian Stocks Retreat From 7-Month High Before U.S. Jobs
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Asian stocks fell, with the regional benchmark index retreating from a seven-month high, as investors await a report on U.S. jobs and a decision from the European Central Bank on monetary policy.
HTC Corp. tumbled 4.3 percent after sales slumped at the Taiwanese smartphone maker. Tokyo Electric Power Co. dropped 2 percent as utilities slid the most among the regional measure’s industry groups. Australand Property Group climbed to an almost six-year high in Sydney after Frasers Centrepoint Ltd., a Singapore property company spun off from Fraser & Neave Ltd., trumped Stockland’s offer to buy the firm.