Asian
stocks fell after Chinese shares posted the biggest one-day selloff in
three months. Material and consumer-staple shares led losses on the
benchmark index at the start of a pivotal week for the region’s markets.
The
MSCI Asia Pacific Index lost 0.3 percent to 132.82 as of 9:02 a.m. in
Tokyo, headed for a monthly loss of 1.2 percent, its sixth such decline
in seven months. This week brings a decision by the European Central
Bank and the last reading on U.S. jobs before the Federal Reserve
decides on whether to raise interest rates in December. The Shanghai
Composite Index dropped 5.5 percent on Friday, its largest retreat since
the depths of a market rout in August, as regulators clamped down on
brokerages.
Japan’s
Topix index lost 0.3 percent. Data Monday showed a preliminary reading
for industrial production rose less than economists estimated in October
compared with the previous month, while retail sales climbed more than
they had expected.
Source: Bloomberg
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