Metals Drag Asian Stocks Lower, With South Korea Bucking Trend
- Kospi closes at record, commodities weigh on most of region
- U.S. Federal Reserve left rates unchanged as expected
CCLA's Bevan Sees More Noise in Metals Market
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Metals weighed on Asian stocks Thursday even after the U.S. Federal Reserve seemed unfazed about slower first-quarter growth in the world’s largest economy.
The MSCI Asia Pacific excluding Japan Index fell 0.3 percent to 487.44 as of 4:41 p.m. in Hong Kong, with the materials group leading losses. Equity markets in South Korea and Hong Kong reopened after Wednesday’s holiday while Japan remains closed for the rest of the week.