Asian stocks fell, extending their weekly decline, after the Bank of Japan quashed expectations for further stimulus and investors scrutinized earnings from PetroChina Co. to China Petroleum & Chemical Corp.
The MSCI Asia Pacific Excluding Japan Index retreated 0.3 percent to 416.93 as of 9:34 a.m. in Hong Kong, heading for a weekly loss of 1.5 percent and a 0.1 percent monthly decline. Stocks retreated this week as Japan’s central bank refrained from boosting monetary stimulus and earnings at companies from Canon Inc. to Oversea-Chinese Banking Corp. disappointed investors. Focus now turns to profit reports due from Citic Securities Co., China’s biggest brokerage, and Chinese manufacturing data due at the weekend. Japan’s market is closed Friday for a holiday.
Source : Bloomberg