Asian stocks began the day lower, abruptly interrupting the upward trend of the regional index which had lasted for three consecutive days. In particular, the Japanese market was affected. Crude oil extended gains from a four-month high, while silver fell back after experiencing the longest rally in 45 years.
The MSCI Asia Pacific index was down 0,2% as of 9:21 am in Tokyo. Meanwhile, Japan's Topix was slipping 0,6% after rebounding to a five-month high a day earlier. The South Korean won and the Thai baht weakened against the dollar (both by 0,2 percent).
“The market has been racing for the past week,” said Stan Shamu, IG's market strategist in Melbourne. “Unless there are continued catalysts driving markets, investors will be sidelined.”
The Nikkei 225 Stock Average was down 0,9% after jumping 3,1% on Tuesday following the Japanese central bank's decision to continue with its asset-buying policy. The BOJ thus stands in contrast to the Fed which instead announced the scaling back of the stimulus policy last December.
Australia's S&P/ASX 200 gained 0,4%, while South Korea's Kospi lost 0,6%.
