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Asian stocks dropped for a third day after JPMorgan Chase & Co. said it had a $2 billion trading loss and China’s industrial output grew at a slower pace, while production at Indian factories unexpectedly contracted.
Nikkei 8,953.31 -56.34 -0.63%
Hang Seng 19,964.63 -262.65 -1.30%
Shanghai Composite 2,394.98 -15.25 -0.63%
Industrial & Commercial Bank of China Ltd., the world’s biggest lender by market value, dropped 1.6 percent in Hong Kong. Sony Corp. tumbled 6.4 percent in Tokyo, heading for its lowest close since 1980, after the maker of Bravia televisions and PlayStation game consoles forecast half as much profit as analysts were expecting. Genting Singapore Plc sank 3.6 percent as the theme park and casino operator posted lower first-quarter net income.
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