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Asian stocks retreated from an eight- week high, Australia’s dollar weakened and crude oil dropped after data indicated a worsening economic slump in Europe.
Asian stocks fell, with the regional benchmark index heading for its first decline in seven days as a deepening economic slump in Europe outweighed expectations the region’s central bank will ease rates today. The MSCI Asia Pacific Index lost 0.1 percent to 119.13 as of 5:13 p.m. in Tokyo, with almost five shares falling for every four that rose. The gauge climbed yesterday to its highest level since May 10 after euro-zone leaders last week agreed to relax conditions for rescuing lenders, easing concern about the region’s debt crisis. Stock Tips|Commodity Tips
Asian stocks fell, with the regional benchmark index heading for its first decline in seven days as a deepening economic slump in Europe outweighed expectations the region’s central bank will ease rates today. The MSCI Asia Pacific Index lost 0.1 percent to 119.13 as of 5:13 p.m. in Tokyo, with almost five shares falling for every four that rose. The gauge climbed yesterday to its highest level since May 10 after euro-zone leaders last week agreed to relax conditions for rescuing lenders, easing concern about the region’s debt crisis.
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