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Asian stocks dropped, with a regional benchmark index retreating from a three-week high, after gauges of manufacturing in China declined, underscoring challenges for President Xi Jinping as he tries to sustain economic momentum while rolling out reforms.
Nikkei 225 Closed
Hang Seng 23,340.05 +33.66 +0.14%
S&P/ASX 200 5,367.91 +15.70 +0.29%
Shanghai Composit Closed
Industrial & Commercial Bank of China Ltd., the nation’s biggest lender, fell 1.3 percent in Hong Kong.
Hyundai Motor Co. and Kia Motors Corp. lost at least 5.1 percent after South Korea’s largest automakers forecast their weakest sales growth in eight years.
BHP Billiton Ltd., Rio Tinto Group and Fortescue Metals Group Ltd., Australia’s biggest iron-ore exporters, gained at least 0.6 percent as shipments from the world’s No. 1 exporter of the commodity resumed after a cyclone.
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