Asian Equities Mixed as Raw-Material Producers Decline

Asia’s benchmark stock index headed for its biggest monthly gain since September, with equities today swinging between gains and losses as material producers declined and information-technology companies rose.

Rio Tinto Group (RIO), the world’s second-largest mining company, dropped 1.1 percent after metals fell in London for the first time in five days. Lynas Corp., which spent $930 million on a rare-earths processing plant in Malaysia, tumbled 16 percent in Sydney after completing a share placement and as debt-restructuring talks continue. GungHo Online Entertainment Inc., a game maker controlled by SoftBank Corp., climbed 2.3 percent in Tokyo, heading for a three-month high.

The MSCI Asia Pacific Index (MXAP) lost 0.1 percent to 142.01 as of 11:36 a.m. in Hong Kong, reversing a gain of 0.3 percent. The gauge is poised for a third weekly advance, bringing its monthly gain to 3.4 percent. The value of global equities climbed to a record $63.9 trillion as the Standard & Poor’s 500 Index reached all-time highs this week.

Bloomberg

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