Yen Longest Rally in a Year Falters as BOJ October Meets Loom

The yen’s gains versus the dollar are faltering as the Bank of Japan holds its first of two policy meetings this month, with markets focusing on whether the central bank will signal a willingness to further ease policy amid global economic slowdown and deflationary pressures. The Japanese currency paused Wednesday after gaining against the greenback on Tuesday when the dollar’s broad gauge posted its longest slide since the market turmoil...

Big U.S. Firms Hold $2.1 Trillion Overseas to Avoid Taxes -Study

The 500 largest American companies hold more than $2.1 trillion in accumulated profits offshore to avoid U.S. taxes and would collectively owe an estimated $620 billion in U.S. taxes if they repatriated the funds, according to a study released on Tuesday. The study, by two left-leaning non-profit groups, found that nearly three-quarters of the firms on the Fortune 500 list of biggest American companies by gross revenue operate tax haven...

Asian Stocks Advance Sixth Day as Samsung Jumps on Profit Report

Asian stocks climbed, building on their biggest five-day advance in almost four years, as Samsung Electronics Co. jumped after quarterly profit topped estimates and investors awaited a Bank of Japan decision on monetary policy. The MSCI Asia Pacific Index rose 0.2 percent to 129.23 as of 9:03 a.m. in Tokyo, as Samsung rallied 3.8 percent to provide the biggest boost to the regional...

Japan Topix Rises as Investors Await Central Bank Decision

Japan Topix index rose for a sixth day as investors await a decision on monetary policy by the central bank. The Topix added 0.1 percent to 1,477.44 as of 9:03 a.m. in Tokyo, with three stocks rising for every two that fell. The Nikkei 225 Stock Average slipped 0.2 percent to 18,157.39. The yen traded at 120.26 per dollar ahead of the Bank of Japan’s decision, with 34 of 36 analysts surveyed by Bloomberg forecasting Governor Haruhiko...

Selloff in Biotech Shares Drags Nasdaq Composite, S&P 500 Lower

A selloff in biotechnology shares dragged the Nasdaq Composite Index lower as equities retreated after nearing their highest levels since the August selloff. The Standard & Poor’s 500 Index ended its longest winning streak this year, after surging yesterday near where an advance faltered at the end of August, and another rally ran out of steam after the Federal Reserve stood pat on interest rates last month. The Nasdaq Biotechnology...