Nikkei Futures Fall on Yen Rebound as Crude Oil Extends Decline

Bloomberg (27/11) -- Japanese index futures fell, signaling the Nikkei 225 Stock Average may extend its retreat from a six-month high, after the yen rebounded against the dollar. Crude oil dropped a fourth day as copper futures slipped while gold and silver held declines.

Nikkei 225 futures were bid at 15,410 in Osaka and Chicago from 15,520 yesterday in Japan. Contracts on the Standard & Poor’s 500 Index were little changed while Australia’s S&P/ASX 200 Index fell 0.1 percent. The yen was steady at 101.33 per dollar after climbing for the first time in four days. West Texas Intermediate oil lost 0.2 percent as copper futures dropped 0.2 percent. Gold traded near a 4 1/2-month low while silver held yesterday’s 1.9 percent slump. Jobless claims probably increased last week in the U.S., according to a Bloomberg survey before a report today, after data yesterday showed home prices jumped by the most since 2006 while consumer confidence unexpectedly dropped. The leader of a protest movement in Thailand, where interest rates are reviewed today, called for the ouster of Prime Minister Yingluck Shinawatra’s government. The U.S. flew unarmed B-52 bombers into an air-defense zone claimed by China and disputed by Japan. Futures on South Korea’s Kospi Index lost 0.2 percent in their most recent trading session, after the gauge rose for a third day yesterday. Contracts on the Hang Seng Index dropped 0.4 percent, while Hang Seng China Enterprises Index futures declined 0.5 percent. The Bloomberg China-US Equity Index of the most-traded Chinese stocks in New York climbed 0.8 percent. The MSCI Asia Pacific Index dropped 0.1 percent yesterday as Japan’s Nikkei 225 and the Topix Index lost at least 0.5 percent. Sayuri Shirai, a Bank of Japan board member who voted against a report at the bank’s Oct. 31 meeting, speaks to reporters today.