Economics
Asian Energy Stocks Rise With Crude Oil as Japanese Shares Slip
- Yen surges to highest level in 1 1/2 years, Nikkei declines
- Shanghai Composite Index Halts Four-Day Winning Streak
Seeing Value in Emerging Markets
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Asian energy stocks advanced as crude oil futures rallied, while a stronger yen weighed on Japanese shares.
The MSCI Asia Pacific Index was little changed at 124.44 as of 4:01 p.m. in Hong Kong, having swung between losses of 0.5 percent and gains of 0.3 percent. Japan’s Nikkei 225 Stock Average fell for a seventh day, its longest such streak since Prime Minister Shinzo Abe took power in 2012, after the yen surged to its highest level against the dollar in 1 1/2 years. After a rally in risk assets since mid-February, investors are turning cautious, with International Monetary Fund chief Christine Lagarde highlighting greater risks to global growth.