Asian stocks declined
after U.S. shares fell and Federal Reserve officials argued that an
interest-rate increase is still warranted this year. Markets in Japan
are closed.
The MSCI Asia Pacific
Excluding Japan Index lost 0.6 percent to 410.10 as of 10:01 a.m. in
Sydney, before markets in China and Hong Kong opened. Australia’s
S&P/ASX 200 Index fell 0.4 percent and South Korea’s Kospi index
retreated 1.1 percent. New Zealand’s S&P/NZX 50 Index slipped 0.1
percent. The Standard & Poor’s 500 Index lost 1.6 percent on Friday.
Three U.S. policy
makers at the weekend separately explained their rationale for
supporting a rate increase at one of the Fed’s two remaining meetings of
2015, citing declines in unemployment and other gains in the U.S.
economy that should outweigh headwinds from slower growth abroad and
turbulent financial markets.
Source: Bloomberg
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