Asian Stocks Drop as Kuroda’s Comments Weigh on Japanese Shares
- Kuroda rejects helicopter money in a BBC interview in June
- The Asia Pacific stock index pares a second weekly advance
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Asian stocks retreated from an eight-month high as consumer-discretionary companies led losses and Bank of Japan chief Haruhiko Kuroda’s opposition to so-called helicopter money dragged Tokyo equities lower.
The MSCI Asia Pacific Index declined 0.5 percent to 134.08 as of 4:10 p.m. in Hong Kong, paring its advance this week to 0.3 percent. The Topix index slipped 0.9 percent led by exporters, trimming its gain for the week to 0.8 percent. Investors focused on the comments from Kuroda, even after a Nikkei newspaper report said Japan’s stimulus package could be as large as 30 trillion yen ($283 billion).