Asian stocks slipped for the first time in four days amid thin trading, after the regional equity index yesterday climbed to the highest level this year.
The MSCI Asia Pacific Index slipped 0.1% after yesterday posting the highest close since Dec. 3.
Japan’s Topix index added less than 0.1% as the yen traded little changed. The Nikkei 225 Stock Average added 0.2%.
South Korea’s Kospi index lost 0.6%. Australia’s S&P/ASX 200 Index was little changed, while New Zealand’s NZX 50 Index slipped 0.2%.
Hong Kong’s Hang Seng Index lost 0.2%, while the Shanghai Composite Index slid 0.3%. Taiwan’s Taiex index added 0.2%, and Singapore’s Straits Times Index fell 0.2%. India’s S&P BSE Sensex Index retreated from a record, falling 0.8%.
Nippon Paper gained 2.1% and Hokuetsu Kishu Paper Co. advanced 1.4%.
Fuji Heavy added 1% after the maker of vehicles and industrial machinery expects operating profit of 100 billion to 200 billion yen more than its target for the three years ending March 2017.
Unitika plunged 19%, its biggest daily loss since October 2008 and its lowest close since December 2012. The stock posted the biggest decline on the Nikkei 225. The textile maker said it plans to raise 37 billion yen from the sale of preferred shares to three banks and Japan Industrial Solutions Co. Unitika forecast a 37 billion yen loss for the year ending March.
Hokkaido Electric Power Co., which covers Japan’s northernmost region, sank 1.6% and Kyushu Electric Power Co. fell 1.5%.
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