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Asian Stocks Trading Lower On US Valuation Concerns

Asian stocks fell, with the regional benchmark index on course for its first loss in three days as it paced the biggest drop in U.S. stocks since November amid concern over valuations.

Honda Motor Co., a Japanese carmaker that gets 47 percent of its sales in North America, lost 3.3 percent. Suntory Beverage & Food Ltd. added 1.4 percent in Tokyo after its parent Suntory Holdings Ltd., a whiskey and beer maker, agreed to buy Beam Inc. Health-care shares fell the most among the 10 industry groups on the regional benchmark index.

The MSCI Asia Pacific Index lost 0.9 percent to 139.39 as of 9:36 a.m. in Tokyo after rallying 1.2 percent over the past two days. All 10 industry groups on the gauge fell.

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]