Asian Equities Lower over Iraq

Asian stocks kicked off Friday trade lower as investors continued to monitor the situation in Iraq.

Brent crude prices climbed to a new nine-month high above $115 a barrel overnight after U.S. President Barack Obama said he would send 300 military advisers to help Iraq battle rebel Sunni fighters. He emphasized there would be no troops involved in combat, but said targeted action was still an option if necessary.

Japanese shares pulled back modestly after ending at four-month highs on Thursday, but the benchmark Nikkei is still headed for a 1.7 percent gain for the week.  Sony added 0.2 percent after shareholders voted Thursday to keep CEO Kazuo Hirai and other top executives after heckling them about the Japanese electronics and entertainment company’s continuing losses.


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