Asian Stocks Decline On US Slide

Asian stocks fell, with the regional benchmark index snapping a two-day gain, on bets the Federal Reserve may start reducing U.S. stimulus next month and after China’s leaders failed to give details about a policy shift.

Samsung Electronics Co., a South Korean consumer electronics maker that gets 43 percent of its revenue in America and China, slid 1.8 percent. KDDI Corp., Japan’s second-largest wireless carrier, led a drop in telecommunication services shares after surging to a 13-year high yesterday. Pioneer Corp., a maker of audio equipment, jumped 17 percent in Tokyo after it reported an unexpected profit.

The MSCI Asia Pacific Index dropped 0.2 percent to 139.54 as of 9:36 a.m. in Tokyo, with all but two of the 10 industry groups on the measure falling. Japan’s Topix index added 0.2 percent. Markets in China and Hong Kong are yet to open.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu