Asian stocks drop second day amid concern Fed will taper
Bareksa • 12 Dec 2013
Stock quotation board displaying Nikkei(REUTERS/Toru H)
34 pct of economists surveyed by Bloomberg said the Fed will begin paring its bond purchases when it meets Dec. 17-18
Bloomberg - Asian stocks fell, with the regional index heading for its lowest close in two months, as investors speculate the U.S. budget deal will give the Federal Reserve confidence to curb stimulus as soon as next week.
Doosan Heavy Industries and Construction Co. sank 4.2 percent in Seoul after the maker of factory equipment said it will sell 9.5 million treasury shares. QBE Insurance Group Ltd. lost 5.5 percent in Sydney, extending this week’s slump to 33 percent, as Fitch Ratings cut the outlook on Australia second-largest insurer by market value to negative from stable. Full Speed Inc. surged 19 percent in Tokyo as the Internet-marketing firm returned to profit.