Asian Stocks Decline as Weak Yuan Fix Weighs on Risk Appetite
- North Korea nuclear test adds to geopolitical concerns
- Sharp leads Apple suppliers lower on report of production cut
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Asian stocks fell for a third day as concern about the strength of China’s economy deepened a rout that’s wiped about $2 trillion from the value of global equities this year.
The MSCI Asia Pacific Index lost 0.9 percent to 127.23 as of 4:04 p.m. in Hong Kong. Japanese exporters slumped after China set a weaker fix for the yuan, while Apple Inc. suppliers tumbled on a report it may cut production. North Korea conducted a nuclear test Wednesday, adding to geopolitical risk. Stocks in Shanghai surged the most in three weeks amid government efforts to shore up the market.