Asian Stocks Outside Japan Drop as Samsung, Hyundai Fall
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Asian stocks outside Japan dropped as South Korean manufacturers dragged the gauge lower. The Topix index rallied in Tokyo as the yen weakened before Prime Minister Shinzo Abe announces a new cabinet tomorrow.
Hyundai Motor Co. sank 2.8 percent after South Korea’s biggest carmaker reported lower sales for August. Samsung Electronics Co., the world’s largest smartphone maker, fell to a two-year low. Tianhe Chemicals Group Ltd. dropped 4.9 percent before suspending trading in Hong Kong after Anonymous Analytics, a group that says it tries to expose corporate governance issues, rated the Chinese lubricant maker a strong sell. Nintendo Co., a Japanese maker of gaming consoles that gets most its sales abroad, gained 2.9 percent.