Economics
Asia Stocks Drop in Volatile Trade as Energy, Utilities Slide
- U.S. factories expand at the slowest pace since May 2013
- Hong Kong's Hang Seng Index drops 1.2% before Thursday holiday
This article is for subscribers only.
Asian stocks fell, led by a retreat in energy and utilities companies, as weak American manufacturing data added to concern about a slowdown in global economic growth.
China Oilfield Services Ltd. and Kunlun Energy Co Ltd. lost more than 4 percent in Hong Kong as crude oil declined below $45 a barrel. Ten-day historical volatility on Japan’s Topix index surged to the highest level since March 2011. Fonterra Co-operative Group Ltd. climbed 4.9 percent in Sydney after milk prices surged.