Manila - Emerging-market stocks fell for the first time in six days as China Mobile Ltd. posted the biggest profit drop since 1999 and the nation’s developers sank on concern the government will take steps to curb property prices.
China Mobile, the world’s largest phone company, slid the most in 14 months in Hong Kong.
Poly Real Estate Group Co. paced declines for Chinese developers in Shanghai.
PT Astra International led a 1.4 percent retreat in Indonesia’s benchmark gauge.
India’s rupee and Turkey’s lira weakened 0.3 percent versus the dollar.
Telekomunikacja Polska SA rose to an eight-month high in Warsaw after profit beat estimates.
The MSCI Emerging Markets Index slid 0.2 percent to 1,040.13 at 4:16 p.m. in Hong Kong.
Home prices in China’s four major cities jumped the most since January 2011, heightening concerns a bubble is forming.
US employers probably added 180,000 workers in September, the most since April, according to a Bloomberg survey.
The data due today may signal when the Federal Reserve will start trimming monetary stimulus.
“Falling earnings and concerns of property curbs raise questions over China’s prospects,” said Jonathan Ravelas, chief market strategist at Manila-based BDO Unibank Inc.
“Although there’s a strong likelihood tapering will not start this year, investors remain mindful of key data to ascertain the state of the US economic recovery.”
The jobs report was delayed by a government shutdown that spurred economists to postpone expectations for tapering of Fed stimulus.
Economists expect the Fed to delay the first cut to its quantitative-easing program until March, according to a poll conducted October 17-18.
The 21 countries in the developing-nations gauge send about 17 percent of their exports to the US, data compiled by the World Trade Organization show.
Eight out of 10 industry groups in the MSCI Emerging Markets Index retreated, led by phone shares, which sank the most in three weeks.
China Mobile tumbled 3.4 percent after posting a third-quarter profit that trailed estimates amid rising network costs.
Poly Real Estate, China’s second-largest developer by market value, and Gemdale Corp. both dropped 1.7 percent.
The Shanghai Composite Index slid 0.8 percent, snapping a two-day gain.
The Hang Seng China Enterprises Index fell 0.1 percent.
New home prices climbed in 69 of 70 Chinese cities the government tracks, according to the National Bureau of Statistics, with prices surging 16 percent in Beijing and 17 percent in Shanghai, the biggest gains since at least 2011.
Yantai Changyu Pioneer Wine Co. tumbled 4.3 percent, the sharpest loss since September 2, after posting a 47 percent drop in third-quarter profit.
Astra International, Indonesia’s biggest auto retailer, retreated 3.6 percent, the biggest drag to the Jakarta Composite Index.
Astra shares are falling on concern a weaker rupiah will increase the cost of its dollar-denominated debt, Norico Gaman, head of research at BNI Securities, said by phone.
HTC Corp. jumped 6.9 percent in Taipei, the most since August 5, after the Financial Times reported that Chairwoman Cher Wang will take on more operational duties from Chief Executive Officer Peter Chou.
Telekomunikacja Polska, Poland’s largest phone company, climbed 4.2 percent, heading for the highest close since February 11, after third-quarter net income exceeded estimates.
Pick n Pay Stores Ltd., South Africa’s second-biggest grocer, surged 4.2 percent in Johannesburg, the sharpest gain since September 20, after first-half profit increased 6.2 percent.
Dubai’s DFM General Index rose 1.1 percent to the highest level since November 2008.
Benchmark gauges in South Korea and the Philippines added at least 0.1 percent.
Trading volumes for the Jakarta Composite were 25 percent below the 30-day average and 39 percent higher for South Korea’s Kospi index, data compiled by Bloomberg show.
The rupee and lira both weakened for a third day, while South Korea’s won, the Indonesian rupiah and Russia’s ruble strengthened at least 0.1 percent.
The MSCI Emerging Markets Index has dropped 1.4 percent this year, compared with a 20 percent advance in the MSCI World Index of developed-nation shares.
The developing-country gauge trades at 10.8 times projected 12-month earnings, lower than the MSCI World’s 14.3 times, data compiled by Bloomberg show. - Bloomberg News