Most Asian stocks dropped, led by a decline in technology shares after Apple Inc. slumped the most in two months in New York. Australian equities rebounded from the largest slump in seven weeks.
Three shares retreated for every two that advanced on the MSCI Asia Pacific Index, which was little changed at 139.67 as of 9:13 a.m. in Tokyo, before markets opened in Hong Kong and China. Samsung Electronics Co. and SoftBank Corp. were the biggest drags on the measure. Australias S&P/ASX 200 Index gained 0.6 percent, led by commodity shares, as West Texas Intermediate crude held a rebound after yesterday dropping below $65 a barrel for the first time in more than four years.
WTI futures in New York advanced as much as 4.3 percent overnight, after posting the biggest monthly loss in almost six years as the Organization of Petroleum Exporting Countries signaled it would take no action to ease a global glut.
BHP Billiton Ltd. and Oil Search Ltd. were the biggest boosts to the ASX 200 today after the gauge slumped 2 percent yesterday. The Reserve Bank of Australia is forecast to hold its benchmark interest rate at a record low 2.5 percent today. BHP Billiton, the worlds largest mining company, climbed 3.6 percent after yesterdays 5.3 percent slump. Rio Tinto Group rose 1.3 percent.