Most Asia Stocks Fall as China Weakens Yuan by Most in Two Years

Most Asian equities fell as China weakened its daily reference rate for the yuan by the most in two years. Chinese shares declined for a sixth day while equities in Japan headed for the biggest loss in more than week.

The MSCI Asia Pacific Index was little changed at 164.74 as of 11:02 a.m. in Hong Kong as about three stocks fell for every two that advanced, with utilities leading gainers and material companies pacing losers. The Hang Seng China Enterprises Index of mainland companies listed in Hong Kong headed for six-day drop, its longest losing streak in three weeks, while Japan’s Topix index retreated for a second day.

The yuan fell as much as 0.7 percent against the dollar in offshore trading after China set the daily reference rate to 6.7671.

Taiwan’s Taiex index +0.9%, South Korea’s Kospi index +0.1%, Kospi 200 +0.1%, Australia’s S&P/ASX 200 Index +0.4%, New Zealand’s S&P/NZX 50 little changed.

Straits Times Index +0.5%, Malaysia’s KLCI -0.4%, Philippine Stock Exchange Index -0.6%, Jakarta Composite -0.3%, Thailand’s SET +0.7%, Vietnam’s VN Index -0.3%.

Source: Bloomberg

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Asia Stocks Mixed as Upbeat Fed Assessment Eases Trade War Fears

Asian equities were mixed after Federal Reserve Chairman Jerome Powell’s remarks on the U.S. economy allayed concerns on global growth outlook amid escalating trade tensions.

The MSCI Asia Pacific Index was little changed at 165.06 as of 5 p.m. in Hong Kong, erasing earlier gains of as much as 0.6 percent. Equities gauges in Japan, Taiwan and Australia rose while measures for China, South Korea and Hong Kong fell. Stocks in India fell after Lok Sabha Speaker Sumitra Mahajan accepted the notice of a vote on non-confidence motion against the government of Prime Minister Modi.

Source : Bloomberg

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Most Asia Stocks Fall on Mixed U.S. Cues After Netflix Results

Most Asian stocks slipped on Tuesday tracking mixed cues from U.S. futures after disappointing subscriber growth at Netflix Inc. clipped enthusiasm about the corporate earnings season.

The MSCI Asia Pacific Index was little changed at 165.14 as of 10:40 a.m. in Hong Kong. Nearly 2 shares advanced for each 1 that declined. Equity benchmarks in Hong Kong and China slipped 1.1 percent each while Japan’s Topix Index bucked the weakness and rose 0.9 percent after a three-day weekend, helped by a weak yen.

Taiex -0.4%, Kospi index -0.1%, Kospi 200 index -0.1%, S&P/ASX 200 -0.6%, New Zealand’s S&P/NZX 50 -0.1%

Straits Times Index +0.1%, Malaysia’s KLCI +0.1%, Philippines Stock Exchange PSEi Index -0.1%, Jakarta Composite -0.6%, Vietnam’s VN Index -0.3%, SET Index -0.3%.

Source: Bloomberg

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