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Bloomberg, (06/12) -- Asian stocks swung
between gains and losses, with the regional benchmark index set for its
biggest weekly drop since August, as improving U.S. economic data
fueled speculation the Federal Reserve may bring forward stimulus cuts.
Hanjin Shipping Co. dropped 1.7 percent
after a report that South Korea’s largest container carrier is among
shipping lines being investigated by the European Union for allegedly
influencing prices in Europe. Nufarm Ltd. slid 1.4 percent after Credit
Suisse Group AG cut its rating for Australia’s top supplier of farm
chemicals. Advantest Corp. jumped 6.4 percent on a newspaper report that
the Japanese maker of semiconductor equipment’s cost cuts helped reduce
its break-even point.
The MSCI Asia Pacific Index added 00.1
percent to 139.63 as of 9:41 a.m. in Tokyo, reversing a loss of 0.1
percent. Fed policy makers meet Dec. 17-18 after minutes of their
October gathering showed they may reduce $85 billion of monthly bond
buying should the U.S. economy improve as anticipated.
The U.S. posted the fastest annualized
growth last quarter since the start of 2012 and jobless claims
unexpectedly fell as the focus turns to today’s November non-farm
payrolls, projected to rise by 185,000 workers. Malaysia publishes trade
data today while protesters in Thailand have said they’ll resume
rallies.
Japan’s Topix index rose 0.3 percent,
while South Korea’s Kospi index was little changed. Australia’s
S&P/ASX 200 Index lost 0.7 percent percent and New Zealand’s NZX 50
Index slipped 0.5 percent. Markets are yet to open in Hong Kong and
China
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Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 9:20 AM
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