Asian stocks fell, with a gauge that excludes Japan heading for its first decline in four days, as commodity shares retreated after oil and metal futures declined.
The MSCI Asia Pacific Excluding Japan Index lost 0.2 percent to 465.86 percent as of 9:08 a.m. in Seoul. Japanese markets are closed for a holiday. The Standard & Poors 500 Index and Dow Jones Industrial Average closed yesterday at all-time highs as U.S. shares rallied for a fourth day after Federal Reserve Chair Janet Yellen said last week the central bank will likely hold key rates near zero at least through the first quarter. S&P 500 futures were little changed today.
Australias S&P/ASX 200 Index lost 0.3 percent. South Koreas Kospi Index was little changed and and New Zealands NZX 50 Index gained 0.1 percent. Markets in China and Hong Kong are yet to open.
Brent crude oil slipped 2.1 percent to $60.11 a barrel in London yesterday after Saudi Arabian Oil Minister Ali Al-Naimi said OPECs biggest producer will seek to maintain market share and that global demand growth this year was slower than expected. A gauge of metal futures in London dropped for a fifth day in six days.
Source : Bloomberg