Asian Stocks Decline for Fourth Day on Yen, China Profit
This article is for subscribers only.
Asian stocks dropped, with the regional benchmark index heading for a fourth day of declines, after the yen strengthened and resources shares slid after China’s industrial profit slowed.
Toyota Motor Corp. slipped 4.1 percent in Tokyo, pacing losses among Japanese exporters as the yen traded near a one-month low to the dollar. Mitsubishi UFJ Financial Group Inc., Japan’s biggest publicly traded lender, dropped 4 percent, extending its biggest weekly decline in two months. Jiangxi Copper Co., China’s biggest producer of the metal, fell 2.2 percent in Hong Kong.