Economics
Asia Stocks Fall Amid China Property Concerns, OPEC Rally Fades
- Chinese shares fall amid concerns about the property market
- Oil jumped as non-OPEC countries joined pledge to cut output
Jha: OPEC Deal Slightly Negative for Emerging Markets
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Asian stocks fell, reversing early gains spurred by a boost in oil prices, as worsening concern about the outlook for China’s property market prompted a selloff in Chinese shares.
The MSCI Asia Pacific Index fell 0.5 percent to 137.69 as of 4:14 p.m. in Hong Kong, led by information technology and finance companies. The gauge had climbed as much as 0.4 percent in morning trading. Eight of the 11 primary groups declined after the index on Friday capped its biggest weekly advance since September.