Economics
Asian Stocks Sink as Chinese H-Shares Drop Most in Three Months
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Asian stocks fell, with mainland stocks in Hong Kong slumping the most in three months, as China’s regulatory curbs on speculative trading overshadowed the central bank’s biggest cut to reserve requirements since 2008.
PetroChina Co., Asia’s largest energy company by market value, sank 6.1 percent in Hong Kong. Brokerages slumped in Shanghai, with Citic Securities Co. losing 4.3 percent, after authorities tightened rules around buying shares with borrowed money. Japanese developers led declines in Tokyo, with Nomura Real Estate Holdings Inc. slumping 5.4 percent after a broker downgraded its shares.