Asian stocks pared their biggest weekly advance in six weeks, with Japanese shares dragged lower by a stronger yen.
The MSCI Asia Pacific
Index declined 0.2 percent to 133.71 as of 9:01 a.m. in Tokyo, paring
this week’s climb to 1.2 percent. The gauge posted the biggest daily
jump in a month on Thursday amid optimism the Federal Reserve’s pace of
tightening will be gradual, taking its rebound to 11 percent from a
September low.
Japan’s Topix index
slipped 0.4 percent, paring a fifth week of gains, as the yen held
Thursday’s 0.6 percent advance. Governor Haruhiko Kuroda, who unleashed
unprecedented monetary stimulus at the Bank of Japan in 2013 and doubled
down on it last year, is done expanding his efforts, according to an
increasing number of economists. He is due to speak on Friday.
Australia’s
S&P/ASX 200 Index gained 0.1 percent and New Zealand’s S&P/NZX
50 Index advanced 0.6 percent. South Korea’s Kospi index added 0.1
percent. Futures on Hong Kong’s Hang Seng Index rose 0.1 percent and
those on the Hang Seng China Enterprises Index added 0.2 percent.
Source: Bloomberg
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