Asian stocks fell,
following the best monthly advance since October, as Japanese corporate
sentiment slumped and investors awaited the release of U.S. monthly jobs
data.
The MSCI Asia Pacific
Index slid 0.9 percent to 127.75 as of 9:15 a.m. in Tokyo. The gauge
climbed 8.2 percent last month, ending a tumultuous quarter for global
markets. Equities have rebounded from lows in February as the Federal
Reserve reassured investors that it won’t rush to increase borrowing
costs. The recovery was most evident on Hong Kong’s Hang Seng Index,
which entered a bull market Thursday.
Japan’s Topix index
slipped 1.5 percent, sending it toward a weekly decline of 2.9 percent.
The Tankan index of sentiment among large manufacturers fell to a
reading of 6 in the first quarter, the lowest level since mid-2013, from
12 in the previous three months, the Bank of Japan reported Friday.
Economists had expected a reading of 8. A positive number means there
are more optimists than pessimists among manufacturers.
Australia’s
S&P/ASX 200 Index declined 1.8 percent, after jumping 1.5 percent
Thursday. New Zealand’s S&P/NZX 50 Index slipped 0.2 percent after
closing at a record high. South Korea’s Kospi index retreated 0.3
percent.
Source : Bloomberg
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