Asian stocks fell, paring the regional benchmark measure’s first weekly advance since July. Consumer and industrial shares declined.
The MSCI Asia Pacific Index declined 0.2 percent to 127.17 as of 9:02 a.m. in Tokyo. Most of this week’s 1.9 percent gain came on Sept. 9, when stocks in Japan soared in a rally that analysts said was fueled by short-sellers closing bearish bets. Investors are grappling with heightened global equity volatility as they await the Federal Reserve’s decision next week and watch developments in China.
The Standard & Poor’s 500 Index rebounded from a selloff Thursday amid low trading volumes. Federal Reserve officials in recent weeks, while acknowledging a global equity rout that followed China’s currency devaluation, haven’t been willing to rule out a September interest-rate increase. While rate futures traders have pared bets, many economists are still predicting the Fed will increase its key rate.