Asian stocks pare gains with Aussie as China trade drops
Bareksa • 10 Apr 2014
Copper for three-month delivery on the London Metal Exchange rose 0.4 percent to $6,645.25 a metric ton, after sliding the most in two weeks yesterday (Bloomberg/Munshi Ahmed)
The Jakarta Composite Index plunged 2.6 percent and the rupiah weakened
Bloomberg - Asian stocks pared gains and Australia’s dollar trimmed its advance as Chinese exports unexpectedly fell, tempering optimism after the Federal Reserve eased concern about when U.S. rates will rise. Indonesian stocks tumbled after elections failed to show a clear winner.
The MSCI Asia Pacific Index advanced 0.4 percent by 11:22 a.m. in Tokyo, after gaining as much as 0.9 percent before China’s data release. Standard & Poor’s 500 Index futures swung to a loss of 0.1 percent. Nickel climbed 1 percent, a ninth straight gain, while copper and tin rose 0.2 percent. The Aussie, which touched a four-month high after a surge in employment, pared its gain to 0.3 percent and the won extended a more-than five-year high. The Jakarta Composite Index plunged 2.6 percent and the rupiah weakened.