Asian Stocks Drop as Japan Topix Falls With Commodity Shares

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Asian Stocks Drop as Japan Topix Falls With Commodity Shares

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PT. Equityworld Futures – Asian stocks fell for a second day, following a retreat in global equities, as commodity producers dropped with oil and copper amid lingering concerns about moderate global growth before central bank policy decisions.

The MSCI Asia Pacific Index slipped 0.8 percent to 130.60 as of 9:10 a.m. in Tokyo, paring this week’s advance to 0.6 percent. Optimism that borrowing costs will remain lower for longer amid modest global economic growth is waning ahead of a string events in the next two weeks. The looming Federal Reserve and Bank of Japan meetings next week, followed by the vote on Britain’s membership in the European Union, have the potential to roil markets.

Global equities have rebounded from the lows seen in February as commodities have rallied. Oil has surged more than 90 percent amid unexpected disruptions and a slide in U.S. output, which is under pressure from the Organization of Petroleum Exporting Countries’ policy of pumping without limits.

Source : Bloomberg

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