Asian stocks retreat as oil resumes drop
Concern about the state of China’s economy is dominating global markets in 2016
Asian stocks sank to a three-year low as oil fell back below $31 a barrel. Chinese equities slid with industrial metals and the Australian dollar, while the yen strengthened.
The MSCI Asia Pacific Index fell 0.5 per cent, reversing a 1.1 per cent advance, as financial and energy shares led declines. The Shanghai Composite Index extended losses after a report that some banks had stopped accepting small-cap shares as collateral on loans.
Futures ...