Asian Stocks Slip With Ringgit on Plane While Bonds Rise
Asian stocks fell, with shares in Kuala Lumpur dropping and the ringgit leading declines among emerging-market currencies after a Malaysia Airlines plane was downed in Ukraine. Bonds in the region rose with oil as Israel sending troops into Gaza added to global geopolitical concerns.
The MSCI Asia Pacific Index slipped 0.6 percent by 10:03 a.m. in Tokyo, falling for the first time this week. The FTSE Bursa Malaysia KLCI Index lost 0.5 percent as Malaysian Airline System Bhd shares tumbled 16 percent. Japan’s Topix gauge slid 1.1 percent, while Standard & Poor’s 500 Index futures fell 0.2 percent following the U.S. gauge’s biggest drop in three months. The ringgit weakened 0.4 percent as the Korean won declined. Ten-year bond yields in Australia fell six basis points after touching a one-year low. Oil in New York added 0.5 percent.
Source: Bloomberg
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