Asian stocks fell, with the regional benchmark index on course to drop for a fourth day, amid concern over the Federal Reserve’s plan to cut stimulus and signs of economic slowdown in China.
The MSCI Asia Pacific Index lost 0.1 percent to 134.63 at 9:28 a.m. in Tokyo, with Australian miners and banks dragging down the measure as they resumed trading after a holiday. The regional gauge fell yesterday by the most since June as part of a global equities slump sparked by a sell-off in emerging-market currencies. Data on profits for industrial companies in China are due today while India reviews interest rates. The Federal Reserve starts a two-day meeting today.
“China will continue to spook investors,” Toby Lawson, head of futures, options and cash equities trading for Asia-Pacific at Newedge Group SA in Sydney, said by telephone. “Investors just need to ride out this volatility until we find a bottom.”
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