Asian stocks fell for the first time in four days as data showed a Chinese factory gauge slipped to a five-month low and energy shares retreated amid a drop in oil.
The MSCI Asia-Pacific Index slipped 0.3 percent to 141.67 as of 9:07 a.m. in Tokyo. The measure lost 0.4 percent last week for a second weekly decline. The official China Purchasing Managers’ Index was 50 in July, compared with the median estimate of 50.1 in a Bloomberg survey and down from June’s 50.2. Energy shares sank as crude futures in New York slid as much as 1.6 percent after Iran claimed it will be able to bolster production a week after sanctions are lifted.
Japan’s Topix index fell 0.1 percent. More than 70 companies in the nation’s benchmark gauge are scheduled to report earnings today.
Australia’s S&P/ASX 200 Index added 0.1 percent. South Korea’s Kospi index fell 0.4 percent. New Zealand’s NZX 50 Index gains 0.5 percent. Markets in Hong Kong and China are yet to open.
Futures on the FTSE A50 Index of China’s largest companies advanced 0.4 percent in most recent trading. The Shanghai Composite Index resumed a decline last week, tumbling 10 percent after three weekly gains. Most of the loss came on July 27, when the Chinese measure tumbled 8.5 percent for its largest daily slump since 2007.
Source : Bloomberg