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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.

Bloomberg [1]

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Mingze Wu

Mingze Wu [6]

Currency Analyst at Market Pulse [7]
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
Mingze Wu

+Mingze Wu [10]