Emerging-Market Stocks Retreat as Apple Outlook Saps Tech Shares
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Emerging-market stocks fell, led by technology companies, as Apple Inc.’s lower-than-forecast iPhone shipments and disappointing revenue forecast dragged down suppliers and Hong Kong-traded Chinese stocks slumped.
Hon Hai Precision Industry Co., which makes iPhones for Apple, slid 1.6 percent in Taipei. Hong Kong’s Hang Seng China Enterprises Index sank to a one-week low. Naspers Ltd. led declines in South Africa. The Ibovespa fell for a fourth day as concern mounted that Brazil’s credit rating will be cut. Turkey’s lira slid 0.8 percent against the dollar after two police officers were killed in an attack along the Syrian border.