ASIA PA­CIFIC

The Star Early Edition - - MARKETS -

STOCKS fell yes­ter­day as crude traded near a four-year low, and Chi­nese shares ex­tended losses amid fad­ing in­ter­est in the eq­uity-trad­ing link with Hong Kong.

Kun­lun En­ergy slid 2.9 per­cent in Hong Kong. Ma­te­ri­als shares led de­clines, with Fortes­cue Met­als Group tum­bling 7.7 per­cent in Syd­ney as a bear mar­ket for iron ore deep­ened. Hong Kong Ex­changes & Clear­ing capped its big­gest three-day drop since Oc­to­ber 2011 as buy or­ders for Shang­hai shares through the eq­uity con­nect slowed to a trickle. Takata plunged to a fiveyear low after the US de­manded that car mak­ers ex­pand re­calls in­volv­ing the company’s faulty air bags.

The MSCI Asia Pa­cific in­dex dropped 0.5 per­cent to 139.97 as of 4.12pm in Hong Kong. The gauge climbed 5.2 per­cent from its Oc­to­ber low through Tues­day after the Bank of Ja­pan un­ex­pect­edly added to mon­e­tary eas­ing and the na­tion’s $1.1 tril­lion (R12 tril­lion) pen­sion fund said it would buy more shares. – Bloomberg

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