Asian Stocks Retreat After Global Rally as Japan Shares Decline

Asian stocks fell as a global rally in equities stalled, with the S&P 500 Index slipping from a record and investors weighing corporate earnings and the prospects for global growth.

The MSCI Asia Pacific Index dropped 0.2 percent to 133.59 as of 9:04 a.m. in Tokyo as Japanese shares fell for the first time in seven days. Global equities added more than $ 4.5 trillion in value since the U.K. shock decision to leave the European Union, pushing valuations on Asia-Pacific stocks close to the highest level this year. Investors are assessing corporate earnings amid concern sluggish global growth will persist as the International Monetary Fund scrapped its forecast for a pickup this year.

Source: Bloomberg

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Asian Stocks Advance Amid Global Rebound on Stimulus Speculation

Asian stocks rose, following a rally in global equities, amid optimism that policy makers will introduce measures to limit the economic fallout from U.K. leaving the European Union.

The MSCI Asia Pacific Index advanced 1 percent to 126.64 as of 9:03 a.m. in Tokyo. A gauge of global equities climbed by most in a week as investors watched for signs that central banks and governments will help ease the post-Brexit market turmoil. Federal Reserve Governor Jerome Powell said global risks have shifted further to the downside after Britain’s vote to exit the EU, introducing new uncertainties that may merit reassessing monetary policy.

Japan’s Prime Minister Shinzo Abe said Wednesday he will mobilize all possible measures, while South Korea on Tuesday proposed a package of fiscal stimulus. Investors are awaiting details on the U.K.’s plan to leave the European Union amid concern the move could disrupt the global economic recovery.

Source: Bloomberg

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