Asia Stocks Follow US Decline On Fed’s Minutes

Asian stocks fell, with the benchmark index paring yesterday’s rally, as Federal Reserve minutes showed officials saw diminishing benefits from the central bank’s bond-buying program.

Nintendo Co., a Japanese maker of video-game players, fell 4.4 percent after jumping 11 percent yesterday. Daiei Inc. slumped 7.3 percent in Tokyo after the supermarket operator cut full-year forecasts. Raw-material shares fell the most among the 10 industry groups of the Asia-Pacific benchmark index.

The MSCI Asia Pacific Index dropped 0.4 percent to 139.30 as of 9:30 a.m. in Tokyo. The measure gained 1 percent yesterday, the biggest advance since Nov. 18.


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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