Asian Equities Lower Yet Again

Asian stocks fell, with the regional index headed for its longest losing streak in more than a decade, the dollar weakened against most major peers and government bonds climbed before the Federal Reserve reviews interest rates. Metals rebounded.

The MSCI Asia Pacific Index (MXAP) fell 0.1 percent by 1:03 p.m. in Tokyo, falling a ninth day. Nasdaq 100 Index futures were little changed after the U.S. gauge of technology stocks sank 1 percent in New York. The Bloomberg Dollar Spot Index slid 0.1 percent, with the currencies of Japan and South Korea strengthening. Ten-year Australian notes rose for the first time in six days as the yield on 10-year Treasuries slipped two basis points. Gold and nickel rose at least 0.3 percent.

Fed officials meet to review policy from today, with an unexpected decline in American factory output tempering speculation that the timeline for interest-rate increases could be brought forward. Morning trading in Hong Kong was canceled because of a typhoon, while Australia’s central bank said it will monitor risks from rising property prices as policy makers reiterated a period of stability in record-low interest rates.

Bloomberg

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