TOKYO: Asian stocks opened with the regional benchmark index little changed after the Federal Reserve said it will pump fresh stimulus if necessary into the world’s biggest economy, disappointing some investors anticipating a more definitive sign of further easing.
Westpac Banking Corp, Australia’s No. 2 lender by market value, fell 0.3% in Sydney. Sony Corp, Japan’s No. 1 exporter of consumer electronics, rose 3.5% Tokyo after the yen retreated from a two-month high against the dollar. Soy sauce maker Kikkoman Corp. dropped 3.9% in Tokyo after first-quarter operating profit fell.
The MSCI Asia Pacific Index was little changed at 118.22 as of 9:22 a.m. in Tokyo before markets in Hong Kong and China opened.
“People would like the Fed to do more because I think it would improve the market sentiment a little bit,” said Angus Gluskie, managing director at White Funds Management in Sydney. (Bloomberg/tw)