Asia Stocks Swing as Energy Shares Slide, Technology Firms Rise
- Japan shares drop as yen heads for fifth session of gains
- China’s central bank injects most cash in five weeks
IG Asia's Pan Sees Market Focus on Monetary Policy
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Asian shares fluctuated near a 10-year high, as energy producers and industrial firms retreated before a flurry of earnings this week.
The MSCI Asia Pacific Index was little changed at 159.58 as of 4:31 p.m. in Hong Kong, a trading day after reaching its highest level since December 2007. The gauge advanced for 10 straight sessions through Friday, pushing its relative strength index above 70, a level which some traders see as overbought. Monday’s decline comes as investors await a raft of earnings this week from companies including Nintendo Co. and Singapore Airlines Ltd. The U.S. Federal Reserve is expected to stand pat on monetary policy as officials meet this week.