Jun
15

Asian Stocks Fall as Investors Weigh Greece Standoff, Await Fed

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Asian stocks fell as investors awaited an update from the Federal Reserve on U.S. monetary policy and a meeting of euro-area finance ministers with Greece.

The MSCI Asia Pacific Index retreated 0.1 percent to 147.26 as of 9:01 a.m. in Tokyo. The gauge lost 0.5 percent on Monday after the latest round of negotiations between Greece and its creditors fell apart. The Fed starts a two-day policy meeting Tuesday. While U.S. data from hiring to spending have indicated the economy improved after a first-quarter slump, reports Monday showed an unexpected decline in factory output.

“All week it will be about Greece and the Fed,” Stan Shamu, Melbourne-based market strategist at IG Ltd., said by phone. “We might start to see the Fed getting a little bit more upbeat and that could cause some volatility. Most traders want to be cautious first and react after we see what happens toward the back end of the week with Greece. For now, there will continue to be that element of caution in the market.”…

Asian Stocks Fall as Investors Weigh Greece Standoff, Await Fed

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