SYDNEY—Asian stockmarkets were tugged lower by fresh concern about the solvency of China’s property developers on Wednesday, while a surging oil price added to worries that a hot U.S. inflation reading could renew pressure on policymakers to lift rates.
Brent and U.S. crude futures extended gains into a fourth session, hitting two-week highs around $85 a barrel. Another warning came from Chinese factory gate prices, which are gaining at their fastest clip in a quarter century.
