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Asia Stocks Set for Lowest in a Year on China Bailout Reluctance

Asian stocks fell, with the regional benchmark index set for its lowest close in more than a year, after the Chinese premier said economies “must put their own houses in order” and not rely on bailouts from China.

The MSCI Asia Pacific Index earlier swung between gains and losses after French lenders dismissed concerns over their access to funds, easing concern that Europe’s debt crisis may lead to a freezing of credit markets. Commonwealth Bank of Australia, the nation’s largest lender by market value, slumped 2.5 percent in Sydney. Samsung Electronics Co. led technology shares lower after Apple Inc. won backing from a German court for a ban on sales of a Samsung product in the country.