Most Asian stocks
fell, after the biggest weekly rally in four years, as oil held declines
and a stronger yen weighed on Japanese shares.
About three shares
dropped for each that rose on the MSCI Asia Pacific Index, which lost
0.1 percent to 119.50 as of 9:10 a.m. in Tokyo after jumping 5.9 percent
last week. Santos Ltd. slid 2.7 percent in Sydney as U.S. oil traded
below $30 a barrel. HSBC Holdings Plc and BHP Billiton Ltd. are
scheduled to post earnings this week, with financial companies and
commodity firms among the biggest laggards this year, as investors
question the ability of central banks to aid ailing economies amid
forecasts for stagnant global growth.
Japan’s Topix index
lost 0.7 percent. The yen traded at 112.55 per dollar after climbing 0.6
percent last week, its third straight weekly advance.
Australia’s
S&P/ASX 200 Index added 0.4 percent and South Korea’s Kospi index
retreated 0.2 percent. New Zealand’s S&P/NZX 50 Index lost 0.4
percent. Markets in Thailand and Sri Lanka are closed for holidays.
Futures on Hong Kong’s
Hang Seng Index foreshadowed declines of 0.6 percent, with contracts on
the Hang Seng China Enterprises Index, a gauge of mainland stocks
listed in the city, down 0.9 percent at the end of last week. FTSE China
A50 Index futures added 0.1 percent.
Source: Bloomberg
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