Hong Kong stocks dropped, dragging the city’s benchmark index down to its lowest level since July, as casino companies tumbled on signs of a slowdown in Macau gambling revenue and property developers declined.
Bill Gross, who oversees the world’s biggest bond fund at Pacific Investment Management Co., said the pace of economic growth in China is among the biggest questions in developing nations and the largest risks for markets.
Australia’s bonds fell and the currency slid after its biggest gain in eight months before the Reserve Bank releases its quarterly statement on policy this week after signaling a period of steady borrowing costs.
Treasury 10-year notes declined for the first time in three days amid speculation a rally that pushed yields to a three-month low amid tumbling emerging markets and weaker U.S. data is losing momentum.
Emerging-market stocks fell, extending the worst start to a year on record, on concern the global economic recovery will wane. Lenovo Group Ltd. drove a selloff in technology companies after five analysts downgrades.
U.S. stocks rose, with the Standard & Poor’s 500 Index rebounding following the biggest drop since June, as Treasuries retreated and Turkey’s lira led gains among emerging-market currencies. A gauge of stocks in developing nations extended its worst-ever start to a year.