Asian Stocks Continue Lower As Risk Appetite Fades

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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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