Economics
Asia Stocks Fall, Led by Finance, Consumer-Staple Shares
This article is for subscribers only.
Asian stocks fell, with the regional benchmark index reversing earlier gains as financial and consumer-staple shares led the decline.
Japan’s Topix index closed little changed after rising as much as 1.1 percent. China Overseas Grand Oceans Group Ltd. led the decline in the MSCI Asia Pacific Financials Index. China South City Holdings Ltd. soared 61 percent in Hong Kong as Tencent Holdings Ltd. said it will buy a stake in the logistics-center operator. Newcrest Mining Ltd., Australia’s biggest gold producer, jumped 7 percent after saying gold production will be around the top end of its forecast range.