Asian Stocks Pare Weekly Losses as Japan Reaches Year’s High

  • Japan’s Topix erases 2016 decline after the yen held losses
  • Muddy Waters says it’s short China Huishan Dairy in Hong Kong

Asian shares rise, paring a weekly decline as Japanese stocks gain to highest level in 2016. The yen held losses following the Federal Reserve’s outlook for more rate increases next year. Carson Block’s Muddy Waters announced a new short target in Hong Kong.

The MSCI Asia Pacific Index rose 0.2 percent to 135.90 as of 4:54 p.m. in Hong Kong. Six of the 11 primary groups advanced, led by industrial and consumer discretionary companies. The benchmark rose for the third time in four sessions on Friday, paring this week’s drop to 1.8 percent.

  • Japan’s Topix erased this year’s decline after the yen held losses
    • Carmakers and electric-appliance producers climbed; Japan Airport Terminal surged the most since July
  • Hong Kong stocks fell; Muddy Waters said it’s short China Huishan Dairy in a 47-page report 
    • Huishan Dairy fell as much as 4.3 percent before suspending shares
  • Major Asian stock indexes: Topix rose 0.5 percent, S&P/ASX 200 fell 0.1 percent, Hang Seng Index dropped 0.2 percent, Shanghai Composite advanced 0.2 percent, Shenzhen Composite rose 1 percent

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