Asian Stocks Fall Most in Three Months, Pacing U.S. Rout
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Asian stocks fell, with the regional benchmark index posting its biggest loss in more than three months, as it paced the largest drop in U.S. stocks since November amid concern over valuations.
Great Wall Motor Co., China’s No. 1 maker of sport utility vehicles, plunged 12 percent in Hong Kong after delaying the introduction of its Haval H8 model for three months to address technical deficiencies. Honda Motor Co., a Japanese carmaker that gets 47 percent of sales in North America, lost 3.5 percent. Dainippon Sumitomo Pharma Co. fell 7.7 percent in Tokyo, leading declines on the Topix index, which slumped the most in five months.