Asian Stocks Fluctuate as Crude Rebound Buoys Energy Producers

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Asian stocks swung between gains and losses, after the regional benchmark index dropped to a one-month low, as energy companies surged with a rebound in oil while utilities slid.

The MSCI Asia Pacific Index fell less than 0.1 percent to 124.34 as of 9:14 a.m. in Tokyo, after rising as much as 0.1 percent. Japan’s Topix index fluctuated as the yen traded near a 1 1/2-year high. After a rally in risk assets since mid-February, investors are turning cautious, with International Monetary Fund chief Christine Lagarde highlighting greater risks to global growth amid middling data out of some of the world’s biggest economies.

South Korea’s Kospi index added 0.4 percent, while Australia’s S&P/ASX 200 Index rose 0.2 percent. New Zealand’s S&P/NZX 50 Index fell 0.3 percent. Markets in China and Hong Kong have yet to start trading.

Source: Bloomberg