Asia Stocks Fall as Growth Concerns Boost Yen, Weighing on Topix

Asian stocks fell, following declines in global equities, as concerns over global economic growth sapped confidence for risk assets, boosting the yen and dragging down Japanese shares.

The MSCI Asia Pacific Index slipped 1.2 percent to 128.41 as of 4:11 p.m. in Hong Kong, as equity markets from Hong Kong to South Korea slid more than 1.2 percent. Japan’s Topix index dropped 1.8 percent as the yen climbed 0.8 percent to 100.89 per dollar. Bank of England chief Mark Carney warned that risks from the U.K.’s vote to leave the European Union had started to crystallize as the central bank took steps to spur lending by reducing capital requirements for banks.