Asia Stocks Heading for First Monthly Drop Since October
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Asian stocks slid, with the regional benchmark index’s heading for its first monthly decline since October, as a drop in Japanese shipping lines limited a rebound in the nation’s shares and utilities slumped.
Japanese shipping companies dropped, with Mitsui O.S.K Lines Ltd. falling 4.2 percent, as a gauge of freight rates headed for its steepest monthly decline this year. Huaneng Power International Inc. slid 3.4 percent in Hong Kong, pacing declines among utilities. Singapore Airlines Ltd., fell 0.9 percent after it placed aircraft orders worth $17 billion, sparking concern aggressive expansion by Southeast Asia’s biggest carrier may crimp dividends.