Emerging-market stocks capped the biggest decline in three months, led by commodity and technology companies, after data showed a slowdown in Chinese manufacturing. Brazil’s real led losses among major currencies.
Hong Kong stocks fell, with an index of Chinese companies sliding from an eight-month high, after a private gauge of mainland factory activity declined for the first time in four months and minutes from the Federal Reserve signaled it may cut stimulus sooner than expected.
Most Chinese stocks fell after a manufacturing gauge declined and on speculation the government will announce property curbs. A rally for energy shares almost erased a loss of as much as 1.3 percent for the benchmark index.
Chinese Finance Minister Lou Jiwei signaled the world’s second-biggest economy may expand less than the government’s target this year and that growth as low as 6.5 percent may be tolerable in the future.