Asian Stocks Resume 2016 Slump as Japanese Shares Lead Declines
- Topix index erases most of Wednesday's rebound, falling 2.5%
- Equities pared losses in afternoon trading as China gained
Japanese Shares Drop Most Since September
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Asian stocks resumed their 2016 rout, with the regional benchmark index falling for the eighth time in nine days, as Japanese shares tumbled following a renewed selloff in U.S. equities.
The MSCI Asia Pacific Index sank 1.7 percent to 120.67 as of 8 p.m. in Tokyo, as all 10 industry groups retreated. The gauge trimmed a retreat of as much as 2.6 percent in afternoon trading as the Shanghai Composite Index reversed losses. Japan’s Topix index pared a drop of as much as 4.1 percent to close 2.5 percent lower. The Standard & Poor’s 500 Index set the tone for the Asian day, falling 2.5 percent on Wednesday.