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By Bloomberg

Emerging-market stocks fell for a ninth day, with the benchmark index poised for its longest losing streak in almost three months, and bonds extended a global rout. The Korean won led developing currencies lower.

The Shanghai Composite plunged as much as 5.4 percent after a brokerage suspended margin financing. Ali Pictures Group Ltd. tumbled on plans to sell new shares as a gauge of Chinese equities in Hong Kong lost 2.2 percent. Samsung SDS Co. slid in Seoul after Samsung Electronics Co. said it has no plans for a merger. Indonesia’s government bonds were hit hardest in Asia, with the 10-year local-currency yield rising to a 2015 high. The won slumped 0.7 percent against the dollar.

The MSCI Emerging Markets Index fell 1 percent to 985.59 at 1:04 p.m. in Hong Kong. A rout in global bonds gathered pace after European Central Bank President Mario Draghi forecast continued market volatility. Greece’s talks with its creditors failed to resolve a standoff while Prime Minister Alexis Tsipras rejected proposals that would unlock bailout funds. The U.S. is due to report monthly jobless claims on Thursday.

“Everyone is cautious about Greece and the U.S.,” Thomas Yong, the Kuala Lumpur-based chief executive officer of Fortress Capital Asset Management Sdn., which oversees about $278 million, said by phone. “The fear is that the Greece issue will blow out suddenly, but we think it is unlikely.”

All 10 industry groups in the MSCI Emerging Markets Index fell, led by telecommunication services and energy companies. The developing-nation index trades at 11.9 times its projected 12-month earnings, compared with a multiple of 16.8 for the MSCI World Index of developed-nation stocks, according to data compiled by Bloomberg.

Golden Sun Securities Co. suspended margin trade financing for the ChiNex Index of smaller companies amid concern gains have gone too far, too fast.