Asia Stocks Pull Back As Investors Eye New Risks; Oil Higher

Asian stocks pulled back on Tuesday, brushing off a firmer Wall Street lead and pausing a recent rally, as investors remained cautious about key economic and political risks, while supply concerns kept crude oil prices near 3-1/2-year highs. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.65 percent after rising the previous day to its highest since late March. The index had rallied for three straight sessions prior to Tuesday.
Australian stocks were down 0.35 percent after briefly touching a four-month high and South Korea’s KOSPI shed 0.55 percent. Japan’s Nikkei was a shade lower, its surge to a three-month peak bogging down.
Hong Kong’s Hang Seng lost 0.5 percent, pulling back from a two-month peak to snap a five-day winning run and Shanghai inched up 0.05 percent.Investors in Chinese equities will likely re-jig their exposure after MSCI, the U.S. index publisher, published its latest index weighting. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774