Asian stock markets are slowing after the run of recent days which had brought them to the highs of the last twenty months thanks to the decision of the Japanese Central Bank to adopt new measures against deflation. Japan's Topix index, in particular, fell for the first time in eight days as the yen strengthened against the dollar.
On the stocks side, camera maker Canon lost 3,3 percent. Rio Tinto Group, the world's second largest mining group, lost 2,6% on the Sydney Stock Exchange. GS Engineering & Construction lost up to the maximum allowed (-15%) in Seoul after reporting unexpected losses.
The MSCI Asia Pacific index slipped 0,3% to 137.70 as of 10:41 am Tokyo, with five stocks falling for every four rising. The measure advanced 3,2% this week and has been on the rise over the past five months ahead of BoJ intervention and signs of improvement in the US economy. “The big question now is whether the rally is sustainable,” said Masahiko Ejiri, fund manager at Mizuho Asset Management in Tokyo. Monetary stimuli are simple to apply, but the economy is difficult to change.”
The Nikkei 225 Stock Average lost 0,6%, while the Topix fell 0,4 percent. Australia's S&P/ASX 200 was up less than 0,1%, while New Zealand's NZX 50 was up 0,3 percent. Taiwan is down (Taiex - 0,2%).
