Asian Stocks Drop Most in Two Weeks as Investors Wait for OPEC
- China shares down most in two weeks as volatility returns
- Apple suppliers, banking stocks weigh on Japan’s Topix gauge
Time to Look Beyond the Politics of the Oil Market?
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Asian stocks fell the most in two weeks as Chinese shares slumped before a week-long holiday and amid uncertainty over whether OPEC will be able to curb output that’s pushed down oil prices.
The MSCI Asia Pacific Index dropped 0.9 percent to 140.68 as of 4:01 p.m. in Hong Kong, retreating for a second day after closing at a 14-month high on Thursday. Hong Kong’s Hang Seng Index fell 1.6 percent and the Shanghai Composite gauge lost 1.8 percent as volatility rose before Chinese financial markets shut down next week. Japan’s Topix index decreased 0.8 percent, after rallying 2.9 percent last week, as Apple Inc. suppliers dropped and bank stocks weighed on the benchmark gauge.