Asian Stocks Drop Led by Energy Shares as October Rally Halts
- More than $4 trillion added to global stocks' value this month
- MSCI Asia Pacific Index heads for best month in five years
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Asian stocks fell, paring the benchmark regional equities gauge’s biggest monthly rally in five years, as energy and material shares led losses and casino stocks trading in Hong Kong slumped.
BHP Billiton Ltd., the world’s largest mining company, slipped 2.9 percent in Sydney as commodity companies extended Monday losses. Wynn Macau Ltd. sank 0.9 percent in Hong Kong as gaming revenue at Macau casinos dropped. Gold futures dropped the most this month, dragging Newcrest Mining Ltd. down 5.1 percent in Sydney. Tokyo Electric Power Co. tumbled 4.5 percent in Tokyo as NHK reported that Japan’s Health Ministry said for first time that leukemia in an employee who worked at its Dai-Ichi power plant resulted from the March 2011 nuclear disaster.