Asia Stocks Slide on Europe; Hang Seng Erases 2013 Gains
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Asian stocks fell, with the regional benchmark index poised to slide for the first time in three days, on concern Italy’s elections may reignite Europe’s debt crisis. Hong Kong’s Hang Seng Index erased its gains this year on a report Beijing may introduce more property curbs.
Sony Corp., a Japanese consumer electronics maker that gets a fifth of its revenue in Europe, lost 3.7 percent. Shimao Property Holdings Ltd. sank 4.8 percent in Hong Kong. Hanwha Life Insurance Co. plunged 9.8 percent in Seoul after Hanwha Chemical Corp. sold its shares. Global Logistic Properties Ltd. slumped 6.9 percent in Singapore after a sovereign wealth fund in the city-state said it’s selling a stake in the biggest owner of industrial properties in Japan.