Asian Stocks Little Changed as Investors Await China Growth Data

July 15 (Bloomberg) -- Asian stocks were little changed as investors await a report that is forecast to show China’s economy slowed in the second quarter. The MSCI Asia Pacific excluding Japan Index gained less than 0.1 percent to 439.16 as of 10:02 a.m. in Sydney. The measure declined 5.8 percent this year through last week as China’s money-market rates surged to a record and after Federal Reserve Chairman Ben S. Bernanke said policy makers may start reducing stimulus if the U.S. economy shows sustained improvement. Futures on the Standard & Poor’s 500 Index gained 0.1 percent. Japanese equity markets are closed for a holiday. Markets are yet to open in Hong Kong and China. The MSCI Asia Pacific excluding Japan Index gained 2.8 percent last week, leaving the gauge trading at 11.9 times average estimated earnings compared with 15.2 for the Standard & Poor’s 500 Index and 13.2 times for the Stoxx Europe 600 Index, according to data compiled by Bloomberg.

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 8:15 AM