Asian stocks fell for a third day, trimming the biggest quarterly advance for the regional benchmark index since 2013, as energy and material shares led declines.
The MSCI Asia Pacific Index lost 0.3 percent to 146.2 as of 9:05 a.m. in Tokyo, paring its climb since Dec. 31 to 6 percent. Gains in global equities pushed valuations last week to the highest in five years, with markets in China, Japan and Europe poised for rallies of more than 10 percent in the first quarter.
“We are moving to the sidelines,” said Stewart Richardson, chief investment officer at RMG Wealth Management LLP in London. “We will be looking to buy into a reasonable correction. The main equity indexes are looking tired.”
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