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Overnight Markets: US stocks decline further on Fed stimulus bets

by Himanshu Singh on Dec 06, 2013 at 03:56

Among financial stocks, Morgan Stanley lost 3% and JP Morgan Chase & Co. (JPM) dropped 2.4%.

In Asia, shares oscillated between gains and losses on Friday as improving US economic data fueled speculation the Fed may bring forward stimulus cuts.

The MSCI Asia Pacific Index added 0.1% to 140 as of 11 a.m. in Tokyo. Japan’s Topix index and South Korea’s Kospi index both gained 0.1%. Australia’s S&P/ASX 200 Index lost 0.3% and New Zealand’s NZX 50 Index slid 0.4%. Singapore’s Straits Times Index fell 0.5%.

Hong Kong’s Hang Seng Index dropped 0.2%, while China’s Shanghai Composite Index declined 0.3%. Singapore’s Straits Times Index retreated 0.5% and Taiwan’s Taiex index rose advanced 0.2%.

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