Most Asian stocks fell as the Federal Reserve’s decision not to raise interest rates fueled concerns about the strength of the global economy. Japan’s Topix index retreated.
About two shares dropped for each that climbed on the MSCI Asia Pacific Index, which traded little changed at 129.39 as of 9:03 a.m. in Tokyo. The measure is heading for a 1.6 percent gain this week. U.S. rates will remain near zero for at least another month after the Fed’s decision, which showed policy makers are reluctant to end record monetary stimulus at a time when uncertainty over China and other developing nations is whipsawing global markets. Odds of an increase this year have fallen below 50 percent, with Fed Chair Janet Yellen saying the recent turmoil may restrain the U.S. economy and suppress already slow inflation.
Japan’s Topix lost 0.9 percent as the yen weakened 0.1 percent against the dollar. South Korea’s Kospi index fell 0.1 percent. Australia’s S&P/ASX 200 Index was little changed. New Zealand’s S&P/NZX 50 Index added 0.3 percent. Markets in China and Hong Kong have yet to start trading.
Source : Bloomberg