Energy Drags Asian Stocks Decline; Topix Gains Most in Two Weeks

  • MSCI AC Asia Pacific Energy Index falls the most in one month
  • Yen extends 2-day weakening streak to 114.86 per dollar

Asian shares declined, led by energy shares. Japan stocks rallied, triggered by a weaker yen after comments from Janet Yellen signaled the Federal Reserve stands ready to raise U.S. interest rates.

The MSCI AC Asia Pacific Index dropped 0.3 percent. Oil futures rebounded 1.1 percent in New York to $51.65 per barrel as of 4:01 p.m. in Hong Kong after the biggest drop in more than a week Wednesday.

The Topix index gained for a second day, adding 0.9 percent, after the yen snapped a seven-day rising streak Wednesday night and continued to weaken today. Fed Chair Yellen said the U.S. economy is “close” to the central bank’s objectives and she’s confident it will continue to improve. 

Highlights 

  • Hang Seng Index -0.4%, HSCI -0.3%, HSCEI -0.2%
  • SHCOMP -0.4%, Kospi +0.1%, TWSE -0.3%
  • Sensex +0.2%, BSE 100 +0.2%
  • ASX 200 +0.2%, NZ Top 50 little changed
  • Straits Times Index +0.3%, KLCI +0.0%, Jakarta Composite Index +0.1%, SET Index -0.6%, Philippines Composite +1.3%, VNI Index -0.1%

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