Asian stocks fell the most in a week, led by Japanese shares, and the yen strengthened on expectations the nation’s central bank will refrain from adding to stimulus in meetings this week. Gold and copper declined.
The MSCI Asia Pacific Index dropped 1.6 percent to 133.66 at 2:25 p.m. in Tokyo. Japan’s Topix Index sank 2.5 percent. Standard & Poor’s 500 Index futures declined 0.3 percent after the gauge fell the most since June yesterday. The yen strengthened 0.5 percent to touch its strongest level in six weeks against the dollar, while China’s yuan rose to a 19-year high. Gold declined 0.4 percent and copper fell 0.6 percent.
The Bank of Japan won’t expand stimulus at its two-day meeting that starts today, according to all 25 economists surveyed by Bloomberg. Federal Reserve officials have signaled this week the improving U.S. economic outlook is providing more scope to reduce asset purchases that have fueled stock and bond gains. Bank of England Governor Mark Carney speaks today about implementing forward guidance aimed at anchoring interest rates, while German data is forecast to show industrial production rose.
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