Asia stocks slip as Deutsche sours mood, oil gains on OPEC pact

Asian stocks followed Wall Street lower in early trade on Friday, while oil prices held close to the highest level in almost a month on optimism over an OPEC plan to curb output.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.5 percent, on track for a 0.4 percent drop for the week. It is poised for a 2.2 percent gain in September, and a 9.5 percent jump in the third quarter.

Japan’s Nikkei retreated 1.5 percent after sluggish consumption data. It is down 1.7 percent for the month, but set to end the quarter 5.7 percent higher.

South Korea’s KOSPI slipped 0.8 percent after manufacturing activity contracted for a second month in September to hit a 14-month low, and August industrial output posted the biggest decline in 19 months.

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Asia stocks slip as Deutsche sours mood, oil gains on OPEC pact