(MENAFN– ecpulse)
Asian stocks declined in early trades, after the regional gauge reached a four month high, as the Federal Reserve`s two-day meeting will begin Tuesday and forecasts refer to the probability of reducing the pace of the U.S bond buying. The MSCI Asia Pacific index slid 0.3 percent to record 138.26 as of 9:47 AM in Hong Kong.
The benchmark regional index had nine of the ten industry groups declined, as tensions spread in the market over the Feds expected decision to cut its $85 billion a month bond buying program by around $10 billion, especially after improvements seen in different sectors in the world`s largest economy.
Moreover, Samsung Electronics Co, Asia`s biggest technology company, declined 2.9 percent in Seoul to fall from the highest level since Mat, while Daiichi Sankyo Co dropped 6.2 percent in Tokyo.
Australia`s S&P/ASX 200 Index declined 0.1 percent from a five year high, while New Zealand`s NZX 50 Index is showing no clear direction. South Korea`s Kospi index fell 0.6 percent, while both China`s Shanghai Composite index and Hong Kong`s Hang Seng fell 0.2 percent.
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