Asian stocks fell, led by materials shares, as escalating violence in the Middle East sapped demand for riskier assets.
Japan’s Nikkei 225 index dropped 109.63 points, or 0.7%, to 15,266.61.
The Hang Seng Index in Hong Kong dumped 13.94 points, or 0.1%, to 22,866.70
Shougang Fushan Resources Group Ltd., which sells coking coal, fell 3.7% in Hong Kong to lead materials companies lower. FIH Mobile Ltd. lost 4.8% in Hong Kong after Jefferies Group LLC downgraded the handset maker.
Miura Co., a boiler-maker, slid 3% in Tokyo after Barclays Plc cut its rating on the stock. China Vanke Co. jumped 7% as the country’s biggest developer debuted shares in Hong Kong to gain access to international investors.
Newcrest Mining Ltd., an Australian gold producer, slid 2.4%. China Petrochemical Development Corp. lost 2.4% in Taiwan.
Prime Minister Shinzo Abe said deflation has ended in Japan and will be thwarted by new government policies designed to encourage business expansion. His ruling party will seek to pass a law in the next session of parliament to legalize casinos as part of a plan to boost tourism before the Tokyo Olympics in 2020
In other markets;
The Shanghai CSI 300 moved down 11.45 points, or 0.5%, to 2,133.37
In Korea, the Kospi index slid 12.58 points, or 0.6%, to 1,981.77
Singapore’s Straits Times Index dropped 0.49 points to 3,261.54
In Taiwan, the Taiex index fell 4.04 points to 9,242.16
In New Zealand, the NZX 50 skidded 16.66 points, or 0.3%, to 5,104.54
Australia’s S&P/ASX 200 lost 30.78 points, or 0.6%, to 5,402.01
