Asian
stocks fell a second day after Federal Reserve minutes showed some U.S.
policy makers were concerned about low inflation. Shares in Japan
gained as the yen weakened past 118 per dollar.
The
MSCI Asia Pacific Index (MXAP) lost 0.1 percent to 139.54 as of 9:04
a.m. in Tokyo after dropping 0.7 percent yesterday. Many Fed officials
saw a need to remain attentive to signs of a drop in inflation
expectations, according to minutes of the Feds October review released
yesterday. Data showed Japans trade deficit narrowed after exports
gained 9.6 percent last month from the previous year, the biggest gain
in eight months. The yen slid 0.2 percent to 118.15 per dollar, trading
near its lowest since August 2007.
South
Koreas Kospi index slid 0.3 percent. Australias S&P/ASX 200 Index
sank 0.5 percent. New Zealands NZX 50 Index added 0.1 percent. Markets
in China and Hong Kong have yet to open. Preliminary data today is
expected to show China factory activity slowed from last month.
Hong
Kongs Hang Seng Index is heading for its biggest weekly decline since
March as buy orders for Shanghai shares through the Hong Kong exchange
link slowed to a trickle after the programs debut this week.
International investors bought a net 2.6 billion yuan ($424.7 million)
of Shanghai shares out of the 13 billion yuan daily limit under the link
yesterday, while mainland investors used about 2.4 percent of their 10
billion yuan quota for Hong Kong stocks.
Source : Bloomberg
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