Japanese stocks fell, following U.S. equities lower, after Brent crude oil dropped below $50 a barrel amid a commodities rout.
The Topix index dropped 0.4 percent to 1,652.91 as of 9:03 a.m. in Tokyo, with three stocks falling for every two that rose. The Nikkei 225 Stock Average slipped 0.5 percent to 20,449.93. Bloomberg gauges of the world’s biggest energy producers and miners tumbled to six-year lows.
China imposed limits on equity short selling late Monday in its latest salvo aimed at quelling stock volatility. Those who borrow shares will have to wait a day to repay the loans, according to statements.
More than 90 companies in the Topix will report quarterly results Tuesday. Of the firms that have reported results this season and for which estimates are available, 61 percent exceeded profit expectations, an improvement from the 48 percent that beat forecasts in the previous quarter, according to data compiled by Bloomberg.
E-mini futures on the Standard & Poor’s 500 Index slipped 0.2 percent after the underlying measure lost 0.3 percent on Monday in New York as the Institute for Supply Management’s U.S. manufacturing index slid from a five-month high.
Source : Bloomberg