Asian Stocks Outside Japan Decline on China Manufacturing
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Asian stocks outside Japan fell, with a regional index heading for its first decline in four days, after an official gauge of manufacturing activity in China expanded at the slowest pace in four months.
Fortescue Metals Group Ltd., Australia’s third-largest iron-ore producer which counts China as its biggest market, dropped 3 percent. CapitaLand Ltd. dropped 2.3 percent, pacing losses among Singapore’s homebuilders after the city’s central bank tightened lending rules to curb rising property prices. Toyota Motor Corp., the world’s No. 1 carmaker, gained 1.2 percent as the yen weakened against the dollar.