Asian Stocks Mixed Following 6 Day Rally

Asian stocks swung from gains to losses after the regional benchmark index climbed for a sixth day yesterday to cap its longest run of advances this year.

The MSCI Asia Pacific Index slipped 0.2 percent to 136.11 as of 9:52 a.m. in Tokyo after rising as much as 0.1 percent. The measure rebounded 4.8 percent through yesterday from a five-month low on Feb. 4. The Standard & Poor’s 500 Index slid less than 0.1 percent yesterday as Procter & Gamble Co., the world’s largest consumer-products maker, cut its forecasts and Inc. was downgraded at UBS AG. Futures on the U.S. equity gauge declined 0.1 percent today.

“The softness that we’re seeing in January and February should be expected,” Mark Matthews, Singapore-based head of Asia research for Julius Baer, which oversees about $377 billion, said on Bloomberg TV. “Markets can’t go up in a straight line. We got so much money after the global financial crisis here in Asia and now we’re seeing a lot of outflows.”


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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