Asian stocks fell for a third day and U.S. equity-index futures declined as oil extended its slump.
The
MSCI Asia Pacific Index slid 0.3 percent to 140.25 as of 9:01 a.m. in
Tokyo, before markets opened in China and Hong Kong. Energy producers
posted the largest declines last week as Brent oil extended its 2014
rout to 37 percent amid a glut in supply. West Texas Intermediate crude
today dropped below $65 a barrel for the first time since May 2010.
Gauges of manufacturing for China and the euro area are due today.
Manufacturing
in Asias biggest economy expanded at the slowest pace since April,
according to economists surveyed ahead of todays scheduled government
release. The Shanghai Composite Index jumped 7.9 percent last week amid
optimism lower crude prices will benefit transport companies and the
central bank will continue to ease policy.
Australias
S&P/ASX 200 Index declined 0.8 percent, with BHP Billiton Ltd. and
Woodside Petroleum Ltd. the biggest drags on the gauge. South Koreas
Kospi index dropped 0.6 percent. Japans Topix index rose 0.4 percent as
the yen weakened 0.2 percent to 118.85 per dollar. New Zealands NZX 50
Index added 0.1 percent.
Futures
on the Standard & Poors 500 Index retreated 0.4 percent. The
underlying gauge fell 0.3 percent on Nov. 28 as exchanges closed early
following the Thanksgiving holiday.
Source: Bloomberg
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