Asian benchmarked stocks swung between gains and losses regardless of the optism that the Federal Reserves will keep its record of monetary stimulus.
Data shows that Mazda Motor Corp has dropped 5.1% in Tokyo. Mazda, an automaker, experienced a decrease in sales from 27% in the US and Canada as the Japanese Yen rose above by 100 per dollar. The Australian surfwear company, Billabong International Ltd. has dropped off by 44%. The company is also discussing refinancing and asset sale.
As of 10:33 A.M. local time in Tokyo, the MSCI Asia Pacific Index also dropped off by 0.2%. These losses are stated to be limited as the Japanese Yen has increased for four consecutive days and are the biggest from its July 2011 rise. In that same year, the value of Japanese shares was also boosted in the dollar-denominated MSCI gauge.
From its recent high on May 22, Japan Topix index decreased by 15% as monetary easing effects were unprecedented by the Bank of Japan.
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