Asian Equities Lower on China Concerns

Asian stocks fell, led by Hong Kong shares, and U.S equity-index futures tumbled with commodities amid speculation China may accept slower growth. Bonds rallied after officials from the world’s biggest economies warned of rising financial risks, and silver plunged.

The MSCI Asia Pacific Index dropped 0.6 percent by 12:02 p.m. in Tokyo, as the Hang Seng Index retreated 1.2 percent. Standard & Poor’s 500 Index futures lost 0.5 percent. SoftBank Corp. drove Japanese shares lower. The yen climbed 0.3 percent as yields on government bonds from the U.S., Japan and Australia slid. The South Korean won rebounded from a five-month low. Silver slumped 1.7 percent with copper down 1.2 percent in London and Brent oil sliding 0.5 percent.

Group of 20 finance chiefs and central bankers said low interest rates could lead to a potential increase in financial-market risk, as major economies rely on monetary stimulus to bolster uneven growth. China’s Finance Minister Lou Jiwei said growth in Asia’s largest economy faces downward pressure and reiterated that there won’t be major changes in policy in response to individual economic indicators. U.S. housing data is due today.

Bloomberg

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