Asian
stocks fluctuated, with Japanese equities erasing gains from the Bank
of Japan’s latest stimulus, as a strengthening yen offset a rally in
crude oil.
The
MSCI Asia Pacific Index rose less than 0.1 percent to 119.87 as of 9:20
a.m. in Tokyo, after falling as much as 0.1 percent earlier. The
Standard & Poor’s 500 Index advanced on Wednesday as commodity
producers rallied with oil. The yen traded at 118.05 per dollar after
strengthening 1.7 percent on Wednesday, the most since August, as weak
U.S. services data fueled anxiety America’s economy isn’t immune to
weakness elsewhere.
Japan’s
Topix index fell 1 percent. The measure dropped below its closing level
on Jan. 28, the day before the central bank surprised investors by
saying it would adopt negative interest rates.
South
Korea’s Kospi index added 0.6 percent. Australia’s S&P/ASX 200
Index climbed 1.1 percent. New Zealand’s benchmark gauge increased 0.1
percent.
Futures
on the FTSE China A50 Index added 0.2 percent in most recent trading,
while those for Hong Kong’s Hang Seng Index dropped 1.1 percent. The
Shanghai Composite Index slipped 0.4 percent on Wednesday, extending
this year’s decline to 23 percent. Margin debt in China’s stock market
shrunk to the lowest level since December 2014 on Monday, a sign of
waning investor confidence after the benchmark gauge’s biggest monthly
tumble since 2008.
Source : Bloomberg
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