Asian Stocks Outside Japan Drop as Energy, Gold Producers Fall
PT. Equityworld Futures – Asian stocks outside Japan dropped, with energy producers, miners and information technology shares leading declines.
Santos Ltd., Australia’s third-largest energy company, fell 1.6 percent in Sydney after Brent futures extended losses. Newcrest Mining Ltd., the nation’s biggest gold producer, sank 10 percent after the precious metal tumbled to the lowest level since 2010. Innolux Corp. slid 6.3 percent in Taipei after Citigroup Inc. downgraded its rating on the supplier of screens to Apple Inc. Daewoo Shipbuilding & Marine Engineering Co. dropped 6.6 percent in Seoul, extending its record weekly drop.
The MSCI Asia Pacific Excluding Japan Index slipped 0.3 percent to 463.22 as of 4:03 p.m. in Hong Kong. The measure last week posted its biggest weekly advance since April as Chinese shares rallied amid speculation banks will support the market.
German Chancellor Angela Merkel held out the prospect of limited debt relief as crisis-ravaged Greece prepares to reopen its banks three weeks after they were shut. Monday is the day the country must reimburse the European Central Bank 4.2 billion euros ($4.5 billion), including interest, as bonds bought during its last debt crisis mature.
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