Chinese shares tumbled on reports of property-lending curbs, metals fell and the won dropped against all major peers. Natural gas climbed to its highest price in five years and oil rallied as forecasts for frigid weather in the U.S. bolstered the outlook for energy demand.

Gauges of Chinese shares in the mainland and Hong Kong tumbled more than 1.9 percent at 11:17 a.m. in Tokyo amid reports that some banks restricted lending to developers and related sectors. The MSCI Asia Pacific Index erased gains to fall 0.2 percent and Standard & Poor’s 500 Index futures were little changed. Copper slid the most in a month and silver declined 0.9 percent. Gas futures rose to $6.41 per million British thermal units, headed to the highest close since December 2008, as the U.S. weather service forecast another arctic blast this week. South Korea’s won touched a 2 1/2-week low against the dollar.

Industrial Bank Co. and other unidentified banks have curbed lending to the property sector and related industries like steel and cement, Shanghai Securities News reported as China said new home prices rose in 69 of 70 cities last month from a year before. Germany’s Ifo institute business climate index is forecast to decline from a more than two-year high. More cold air in the U.S. Northeast and Midwest comes as distillate inventories are at the lowest level since November. Thailand’s baht retreated after two people died in a blast at a Bangkok protest site.

“Property prices are at a high level now and the industry may enter a correction period,” said Wei Wei, an analyst at West China Securities Co. in Shanghai. “Given the fact that the property industry is a pillar of China’s economy, growth will lose steam once the industry suffers. That’s also bad for global growth.”