Asia Stocks Drop as Consumer, Industrial Firms Lead Declines

Asian shares slipped as traders assessed the pace of U.S. monetary tightening and trade tensions between the world’s biggest economy and China. Shares also fell after Apple Inc. was said to be making a significant investment in the development of next-generation MicroLED screens.

The MSCI Asia Pacific Index dropped 0.5 percent to 177.19 as of 3:57 p.m. in Hong Kong, erasing earlier gains and heading for a second day of losses. Japan’s Topix retreated 1 percent after polls showed falling support rates for Prime Minister Shinzo Abe’s cabinet. Hong Kong’s Hang Seng Index added 0.1 percent as investors assessed the implications of a new head at China’s central bank.

The gauge of Asian equities fluctuated as investors await hints on the number of rate hikes this year as Jerome Powell is scheduled for his first meeting as chairman at the Federal Reserve on Wednesday. U.S. Treasury official David Malpass said he misspoke hours after claiming the U.S. was pulling out of decade-old formal economic talks with Beijing.

Hyundai Motor Co. slumped 3.8 percent in Seoul as U.S. safety regulatorsinvestigated air bag failures that were linked to deaths and injuries. Jiangsu Express Co. lost 4.4 percent in Hong Kong, the most in more than two years.

Source : Bloombeg

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Asia Gets The Jitters as Fed Meeting Looms

Asian share markets got off to a hesitant start on Monday for a week in which the Federal Reserve is likely to deliver a hike in U.S. interest rates and perhaps signal that as many as three more lie in store for the rest of the year.

Japan’s Nikkei .N225 took an early 0.3 percent drop as exporters were hit by recent broad-based gains in the yen.

MSCI’s broadest index of Asia-Pacific shares outside Japan  eased 0.1 percent, while Australia’s main index edged up 0.1 percent.

While Wall Street bounced on Friday, the major indices still ended lower for the week. The Dow lost 1.57 percent, the S&P 1.04 percent and the Nasdaq 1.27 percent.

Source : Reuters

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Asia Stocks Pare Weekly Gain as Japan Falls on Trump Concerns

Asian stocks fell slightly, paring its weekly gain, as investors stayed cautious amid conflicting reports on whether Donald Trump planned to remove his national security adviser.

The MSCI Asia Pacific Index declined 0.1 percent as of 4:01 p.m. in Hong Kong. The benchmark gauge gained 1.7 percent this week. Japan’s Topix index closed 0.4 percent lower as the yen strengthened.

The Washington Post reported that President Donald Trump plans to remove H.R. McMaster, something White House Press Secretary Sarah Huckabee Sanders later denied.

South Korea’s Kospi index erased its loss and gained 0.1 percent Friday as the nation sought high-level talks with North Korea in March. Australia’s benchmark index rose for the first time in four days as Wesfarmers Ltd. surged after it said it plans to spin off its Coles supermarket, liquor and convenience stores.

Source: Bloomberg

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