Asian equities fell with Hong Kong property stocks and commodity producers leading the decline as sentiment was weighed by bearishness from Beijing.
Wang Qishan, China’s vice-premier, said the global economy would deteriorate into long-term recession and the country would need to deepen financial reforms to cope with the fallout.
Hong Kong’s Hang Seng slipped 1.4 per cent to 18,225.85 as energy producers and property stocks underperformed the market.
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