Asian Financial Shares, Copper Fall; Euro Weakens Against Yen
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Most Asian stocks declined, led by Chinese banks, after an investor sold $3.63 billion worth of shares in two lenders and amid concern credit quality in the world’s second-largest economy will deteriorate. The euro fell for a second day against the yen and copper led metals lower.
An index of financial shares on the MSCI Asia Pacific Index fell 0.3 percent as of 11:20 a.m. in Tokyo, while an index of Chinese companies traded in Hong Kong sank 1.3 percent. Standard & Poor’s 500 Index futures slid less than 0.1 percent. The euro fell 0.1 percent to 116.85 yen. Oil traded near a three-week high in New York, while copper snapped a six-day rally in London.