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.