Economics
China Stocks Lead Asia Lower as Foreign Investment Drops
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Asian stocks fell for a fourth day, led by the biggest drop in almost a month for Chinese shares, after foreign direct investment in the world’s second-largest economy unexpectedly declined.
Industrial & Commercial Bank of China Ltd. retreated 1.3 percent in Shanghai and SoftBank Corp. fell 2.5 percent in Tokyo, with financial and telecommunications companies posting the largest declines of the regional index’s 10 industry groups. New World China Land Ltd. plunged 17 percent in Hong Kong after a $2.4 billion plan by New World Development Ltd. to privatize the China property business collapsed.