Asian
stocks fell, paring the regional benchmark measure’s first weekly
advance since July. Consumer and industrial shares declined.
The
MSCI Asia Pacific Index declined 0.2 percent to 127.17 as of 9:02 a.m.
in Tokyo. Most of this week’s 1.9 percent gain came on Sept. 9, when
stocks in Japan soared in a rally that analysts said was fueled by
short-sellers closing bearish bets. Investors are grappling with
heightened global equity volatility as they await the Federal Reserve’s
decision next week and watch developments in China.
The
Standard & Poor’s 500 Index rebounded from a selloff Thursday amid
low trading volumes. Federal Reserve officials in recent weeks, while
acknowledging a global equity rout that followed China’s currency
devaluation, haven’t been willing to rule out a September interest-rate
increase. While rate futures traders have pared bets, many economists
are still predicting the Fed will increase its key rate.
Source: Bloomberg
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