Most emerging-market stocks fell as NCsoft Corp. led a drop in technology firms and Chinese property developers sank. Brazil’s Ibovespa entered a bull market amid speculation President Dilma Rousseff won’t be re-elected.
China’s central bank called on the nation’s biggest lenders to accelerate the granting of mortgages, a sign that developers’ prices cuts and incentives alone won’t boost a slumping housing market and economy.
Hong Kong stocks fell, with the city’s benchmark index set for the lowest close in six weeks, as Tencent Holdings Ltd. dropped after a selloff in U.S. Internet stocks and a private gauge of China’s services industry slid.
China’s stocks fell, dragging the benchmark index to its lowest level this month, as consumer companies and property developers sank after a private services index declined and concern mounted that home sales are slowing.
Amid the cluster of half-built brick townhouses surrounded by budding peach groves on the outskirts of Fenghua city, south of Shanghai, workers last week could be seen taking down metal scaffolding and hauling away steel plates.