Updated on
Summary
Asian stocks fell, dragging the MSCI Asia Pacific Index down for the third time in four days, as South Korea said its unclear whether the economic rebound will be sustained and New Zealands unemployment rate rose. The MSCI Asia Pacific Index dropped 0.4 percent to 114.85 as of 7:28 p.m. in Tokyo. The gauge has slumped 5.2 percent from a 13-month high on Oct. 20 amid concerns the withdrawal of stimulus measures will cause the global recovery to falter. The index is still up 63 percent from a five-year low on March 9. Japans Nikkei 225 Stock Average declined 1.3 percent to 9,717.44 as the yen rose against all 16 major counterparts amid higher demand for the currency as a refuge. South Koreas Kospi Index dropped 1.8 percent and Hong Kongs Hang Seng Index declined 0.6 percent. New Zealands NZX 50 Index fell 0.7 percent, while Australias S&P/ASX 200 Index lost 0.7 percent.
