Asian Stocks Post Biggest Decline in More Than Six Weeks
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Asian stocks fell, with the regional benchmark index posting its biggest drop since June 20, as Japanese shares led declines across the region after the yen gained for a fourth day and metals prices slid.
Pioneer Corp. sank 8.7 percent in Tokyo after the maker of car stereos lowered its full-year profit forecast. BHP Billiton Ltd., the world’s biggest mining company, dropped 2 percent in Sydney as copper futures declined. The MSCI Asia Pacific Index decreased 2 percent to 133.01 at 10:03 p.m. in Tokyo as more than five shares dropped for every one that climbed.