Asia Stocks Swing as Energy Producers Rise, Consumer Shares Fall

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Asian stocks swung between gains and losses as energy companies advanced and consumer shares slid.

The MSCI Asia Pacific Index was little changed at 146.12 as of 9:16 a.m. in Tokyo after rising as much as 0.1 percent and falling less than 0.1 percent. West Texas Intermediate crude surged 3.4 percent on Tuesday as shale producers curbed output. Yields on 10-year Australian government notes climbed by 10 basis points after U.S. and European debt resumed losses.

MSCI Inc. said mainland Chinese stocks will probably be added to its indexes once market access issues are resolved, deferring a move that could lure billions of dollars to the world’s best-performing market.

Japan’s Topix index slid 0.1 percent. South Korea’s Kospi index added 0.4 percent. New Zealand’s NZX 50 Index slid 0.6 percent, while Australia’s S&P/ASX 200 Index lost 0.1 percent. Markets in China and Hong Kong have yet to open.

Source : Bloomberg