Asian stocks fell, with the benchmark regional index declining from a four-month high, as the Federal Reserve begins a two-day policy meeting at which it is forecast to reduce the pace of its U.S. bond buying.
Samsung Electronics Co. (005930), Asia’s biggest technology company, sank 2.5 percent in Seoul, retreating from the highest level since May. Daiichi Sankyo Co. (4568), a drugmaker that owns 64 percent of Ranbaxy Laboratories Ltd., tumbled 5.7 percent in Tokyo after U.S. regulators restricted imports from one of the Indian drugmaker’s facilities. Japan’s Topix index rose 0.4 percent as the equity market reopened after a holiday.
The MSCI Asia Pacific Index slipped 0.3 percent to 138.32 as of 11:38 a.m. in Hong Kong as nine of the 10 industry groups on the gauge declined. The Federal Open Market Committee meets today and tomorrow to consider whether to taper its $85 billion-a-month in bond buying. Purchases will probably be cut by $10 billion, according to a Bloomberg survey of economists.
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