Asian Equities Fall on Japan Earnings

Asian stocks slid from a four-month high while European equity-index (SPA) futures were little changed. Emerging-market bonds rose as central banks signal more stimulus is needed while oil dropped and nickel slumped.

The MSCI Asia Pacific Index lost 0.2 percent by 7:09 a.m. in London, falling from the highest close since Jan. 13 as Japan’s Topix gauge declined 0.4 percent. Euro Stoxx 50 futures were 0.1 percent lower and those for the Standard & Poor’s 500 Index were also little changed after the underlying gauge fell from a record yesterday. South Korea’s government bonds advanced, sending the 10-year yield to a six-month low. Nickel dropped the most since 2011 and oil fell 0.4 percent.

Financial companies led equity declines in Tokyo after the nation’s three biggest banks all projected lower profit even as Japan’s economy expanded at the fastest pace since 2011. The Bank of Japan has many options for monetary easing, Governor Haruhiko Kuroda said. Federal Reserve Chair Janet Yellen will also speak today after saying last week the U.S. economy still needs support. Data on U.S. inflation, factory output and the job market is due, along with euro-zone gross domestic product.

Bloomberg

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