Asian stocks fell, with the regional index headed for a three-week low, oil dropped and emerging-market and commodity-linked currencies weakened amid concern that China’s economy may be faltering. Gold advanced and copper traded near its lowest since July 2010.
China, which sits on the world’s largest shale reserves, may exceed its 2015 output goal, as a new project in the nation’s southwest and the promise of fresh investment leave government targets looking outdated.
Emerging-market stocks fell to a one-month low and currencies weakened as Chinese shares in Hong Kong approached a bear market before data tomorrow that may add to signs the world’s second-biggest economy is faltering.
Asian stocks fell, with the regional benchmark set for its biggest decline in five weeks, as Japanese equities sank on a stronger yen and mining companies slid amid concern about China’s economic outlook.
China’s stocks fell before tomorrow’s industrial production data as a slump for energy producers overshadowed gains for financial companies. The Hang Seng China Enterprises Index approached a bear market.
Alibaba Group Holding Ltd. will pay HK$6.24 billion ($804 million) for control of ChinaVision Media Group Ltd., giving China’s biggest e-commerce company access to content from games and films to English Premier League soccer.