Asian Stocks Fall as Greece Negotiations Collapse With No Deal
This article is for subscribers only.
Asian stocks dropped for the first time in four days after the latest round of negotiations between Greece and its creditors fell apart. Chinese shares sank amid concern a flood of equity sales may lure funds away from existing stocks.
China Construction Bank Corp. lost 2.2 percent in Hong Kong, the largest drag on the regional equities index, after Chairman Wang Hongzhang said he sees a challenge for profit growth. GF Securities Co. and CITIC Securities Co. lost more than 2 percent in Shanghai as the regulator said brokerages should limit margin trading and short selling at no more than four times their net capital. Woodside Petroleum Ltd. slipped 2.9 percent in Sydney with energy firms the biggest drag.