Asia stocks outside Japan fell, dragging the regional benchmark index toward a weekly loss. The yen weakened after inflation data while wheat climbed and nickel pared the biggest monthly advance since 2012 as the U.S. warned Russia of an “expensive mistake” in Ukraine.
Asian stocks fell after an unexpected drop in U.S. home sales signaled a housing recovery in the world’s largest economy is running out of steam, while investors weighed better-than-estimated earnings from Apple Inc. and Facebook Inc.
India’s Congress party is claiming credit for a stock-market rally that sent the S&P BSE Sensex index to record highs. Much of the evidence suggests the real catalyst is Narendra Modi, the leader of the opposition party projected to win the national elections.