Most Asian stocks fell, after the biggest weekly rally in four years, as oil held declines and a stronger yen weighed on Japanese shares.
About three shares dropped for each that rose on the MSCI Asia Pacific Index, which lost 0.1 percent to 119.50 as of 9:10 a.m. in Tokyo after jumping 5.9 percent last week. Santos Ltd. slid 2.7 percent in Sydney as U.S. oil traded below $30 a barrel. HSBC Holdings Plc and BHP Billiton Ltd. are scheduled to post earnings this week, with financial companies and commodity firms among the biggest laggards this year, as investors question the ability of central banks to aid ailing economies amid forecasts for stagnant global growth.
Japan’s Topix index lost 0.7 percent. The yen traded at 112.55 per dollar after climbing 0.6 percent last week, its third straight weekly advance.
Australia’s S&P/ASX 200 Index added 0.4 percent and South Korea’s Kospi index retreated 0.2 percent. New Zealand’s S&P/NZX 50 Index lost 0.4 percent. Markets in Thailand and Sri Lanka are closed for holidays.
Futures on Hong Kong’s Hang Seng Index foreshadowed declines of 0.6 percent, with contracts on the Hang Seng China Enterprises Index, a gauge of mainland stocks listed in the city, down 0.9 percent at the end of last week. FTSE China A50 Index futures added 0.1 percent.