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Asian stocks tumbled for a fourth day, led by the Philippines, on concern that government measures will fail to support growth and prevent more emerging-market economies from seeking bailouts from the International Monetary Fund.
Philippine’s benchmark index plunged 12 percent, triggering a temporary trading halt, after Ukraine became the fifth nation to ask for IMF help. South Korea’s Kospi Index fell 3 percent.
The MSCI Asia Pacific Index declined 3.5 percent to 77.55 as of 1:17 p.m. in Tokyo, extending a three-day, 13 percent retreat. Japan’s Nikkei 225 Stock Average fell 0.4 percent to 7,679.50, after earlier falling to its lowest level since November 1982 and climbing as much as 3 percent.
