(MENAFN– ecpulse)
Asian stocks declined in Tuesday early trades, pushing the regional gauge downside for the first time in three days, after valuations rose to the highest level in six months. The MSCI Asia Pacific Index declined less than 0.1 percent to record 141.74 as of 9:46 am in Hong Kong.
The regional index had four shares falling for every three than pick up; however, the gauge inclined 9.6 percent this year through yesterday as investors bet the Fed is going to maintain its bond buying program in 2014, despite improvements seen in the U.S economy.
Valuations on the MSCI Asia Pacific Index rose to 13.9 times the estimated earnings, close to the multiple of 14 recorded in November 18, which is the highest level since May, compared with 16.3 yesterday on the S&P 500 and 15.2 for the Stoxx Europe 600 Index.
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