Asian stocks and emerging-market currencies dropped before a report on Chinese factory output, amid concern developing-nation unrest will erode world growth. Silver resumed its advance and oil held at a four-month high.
The MSCI Asia Pacific Index fell 0.5 percent by 9:58 a.m. in Tokyo, halting a four-day advance as Japan’s Topix Index dropped a second day. Standard & Poor’s 500 Index (SPX) futures rose 0.1 percent following the gauge’s 0.7 percent retreat in the U.S. The South Korean won weakened the most this month as the Malaysian and Thai currencies lost at least 0.3 percent. Copper futures dropped 0.1 percent while silver gained for the 14th time in 15 days. Crude oil in New York rose to $103.33 a barrel.
A private gauge today may signal a second month of contraction for Chinese manufacturing, as deadly clashes between protesters and police from Ukraine to Thailand stoke concern over emerging-market economies, prompting the International Monetary Fund to warn of risks to world growth. In minutes of their last meeting, where bond purchases were reduced a second time, Federal Reserve officials said cuts should continue in the absence of any “appreciable change” in the economy.