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Asian stocks fell, with the regional benchmark set for its biggest decline in five weeks, as Japanese equities sank on a stronger yen and mining companies slid amid concern about China’s economic outlook.
Nikkei 225 14,830.39 -393.72 -2.59%
S&P/ASX 200 5,384.2 -29.64 -0.55%
Shanghai Composite 1,997.69 -3.47 -0.17%
Honda Motor Co., a carmaker that gets about 83 percent of sales overseas, dropped 1.9 percent in Tokyo to pace losses among Japanese exporters.
Celltrion Inc. slumped 8.5 percent in Seoul after the drugmaker’s operating profit plunged. Jiangxi Copper Co., China’s biggest producer of the metal, sank 2.6 percent in Hong Kong, on course for a 2 1/2-year low.
Belle International Holdings Ltd., a retailer of women’s shoes that gets almost all its sales from China, plunged 9.9 percent after reporting same-store footwear sales dropped.
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