2016.09.2923:43:00UTC+00Asian Stocks Down as Oil Gains over OPEC Pact

Asian stocks declined as oil prices kept close to the highest level in nearly a month over optimism regarding the OPEC deal to reduce output. MSCI's broadest index of Asia-Pacific share outside of Japan was down by 0.5 percent.

Japan's Topix index retreated by two percent and the Nikkei fell by 1.5 percent following stagnant consumption data. Japanese consumer prices during August was down by 0.5 percent while industrial output increased by 1.5 percent. South Korea's KOSPI dropped by 0.8 percent after manufacturing activity shrank for a second month in September to reach a 14-month low. Futures on the China A50 Index lost decreased by 0.3 percent and the Hang Seng Index jumped by 0.1 percent.