Asian Stocks Decline as Oil Plunge Deepens; China Shares Jump
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Asian stocks fell, after dropping the most since March yesterday, as U.S. equities extended declines and crude’s slump deepened. China’s Shanghai Composite Index climbed for a fourth day.
Inpex Corp., Japan’s largest energy explorer, dropped 1.1 percent to pace losses among oil producers. Korean Air Lines Co., South Korea’s biggest carrier, slipped 4.7 percent in Seoul after announcing plans to sell 500 billion won ($455 million) in new shares. Tencent Holdings Ltd., China’s No. 2 Internet company, jumped 3.7 percent after Mizuho Securities Asia Ltd. joined JPMorgan Chase & Co. in recommending the stock.