Economics
Asian Stocks Fall as Casino Shares Tumble With Crown Resorts
- Futures on the S&P 500 Index decline; Japan’s Topix rises
- Australia’s Crown Resorts plunges as China detains employees
Crown Plunges After China Detains 18 Employees
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Asian stocks outside Japan declined toward the lowest level in a month as casino operators tumbled after China detained employees of Australia’s Crown Resorts Ltd. Japanese shares advanced as the yen weakened.
The MSCI Asia Pacific Excluding Japan Index fell 0.7 percent to 443.29 as of 4:15 p.m. in Hong Kong. Shares of Crown Resorts, the Australian casino company controlled by billionaire James Packer, plunged in Sydney by the most since December 2007. Japan’s Topix index rose 0.4 percent as the yen traded at 104.12 against the U.S. dollar, following three weeks of losses.