Most
Asian stocks dropped, led by a decline in technology shares after Apple
Inc. slumped the most in two months in New York. Australian equities
rebounded from the largest slump in seven weeks.
Three
shares retreated for every two that advanced on the MSCI Asia Pacific
Index, which was little changed at 139.67 as of 9:13 a.m. in Tokyo,
before markets opened in Hong Kong and China. Samsung Electronics Co.
and SoftBank Corp. were the biggest drags on the measure. Australias
S&P/ASX 200 Index gained 0.6 percent, led by commodity shares, as
West Texas Intermediate crude held a rebound after yesterday dropping
below $65 a barrel for the first time in more than four years.
WTI
futures in New York advanced as much as 4.3 percent overnight, after
posting the biggest monthly loss in almost six years as the Organization
of Petroleum Exporting Countries signaled it would take no action to
ease a global glut.
BHP
Billiton Ltd. and Oil Search Ltd. were the biggest boosts to the ASX
200 today after the gauge slumped 2 percent yesterday. The Reserve Bank
of Australia is forecast to hold its benchmark interest rate at a record
low 2.5 percent today. BHP Billiton, the worlds largest mining company,
climbed 3.6 percent after yesterdays 5.3 percent slump. Rio Tinto Group
rose 1.3 percent.
Source: Bloomberg
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