Asian Shares Pare Best Annual Start Since 2009 as Quarter Ends
Asian Shares Pare Best Annual Start Since 2009 as Quarter Ends
(Bloomberg) -- Asian stocks fell, paring their best start to the year since 2009, with technology shares leading declines amid heightened volatility.
The MSCI Asia Pacific Index dropped 0.6 percent to 4:08 p.m. in Hong Kong, paring its advance so far this year to 15 percent. Technology shares, which slipped 0.9 percent Friday, have been the biggest boost to the gauge this year, surging 31 percent since December. Australian stocks dropped the most since November.
“It’s been a very good period for Asian equities and some investors are taking advantage of the buoyant market by taking some money off the table considering there is a still a potential rate hike in the U.S. this year,” said Jonathan Ravelas, chief market strategist at BDO Unibank Inc. “No one loses money from taking some profit.”
Read more on what the street thinks about Asian stocks this year
Summary
- Topix -0.8%; Nikkei 225 -0.9%
- Technology Stocks Lead Japan Market Lower as Volatility Rises
- Goldman Predicts Japanese Stocks Drop on Policy Uncertainty
- Hitachi Metals Up as Goldman Upgrades on Steel Growth Potential
- Hedge Fund Renaissance Picks Winner as Japan Stock Surges 1,755%
- Nexon Falls as JPM Downgrades on ‘Dungeon & Fighter’ Dependence
- Hang Seng Index -0.8%; Hang Seng China Enterprises Index -0.6%; Shanghai Composite Index +0.1%; Taiex Index -0.3%
- Kospi -0.2%; Kospi 200 index -0.3%
- Australia’s S&P/ASX 200 Index -1.7%
- Australia’s Week in Charts: Good Riddance to a Miserable Quarter
- Australia Street Wrap: BT Investment, Myer Holdings, Greencross
- Australian, Japan Volatility Jump After U.S. Selloff
- Straits Times Index -1%, Malaysia FTSE Bursa Malaysia KLCI Index -0.6%, Philippine Stock Exchange PSEi Index +0.7%, SET Index -0.5%
- Vietnam Ho Chi Minh Index +0.6%
- Indonesia closed for a holiday
- India’s Sensex -0.1%, Nifty 50 Index -0.1%
- Central Depository Gains 80% Above IPO Price in Mumbai Debut
- India’s Sensex, Nifty Gauges Head for First Monthly Drop in 2017
- Grasim Rises; Premji Invest Fund Buys Stake in Aditya Birla Unit
To contact the reporters on this story: Nguyen Kieu Giang in Hanoi at giang1@bloomberg.net, Ian Sayson in Manila at isayson@bloomberg.net.
To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net, Margo Towie, Jeff Sutherland