Stock Market

Asian Stocks Fall as Caution Abounds, Japan Gains

Stocks in Asia declined as traders braced for volatility ahead of next week’s US election and the Federal Reserve’s rate decision. Benchmarks in mainland China and Hong Kong slumped more than 1%, leading losses in the region.

The Topix and Nikkei indexes advanced, boosted by the yen’s recent weakness and gains in the tech sector following a record close for the Nasdaq Composite overnight. US equity futures edged higher in Asia after the S&P 500 closed up 0.2%.

A Bloomberg gauge of the dollar snapped a three-day advance as traders waited for US growth data due later Wednesday to assess the strength of the economy.

Treasury yields were little changed. In addition to risks posed by US events, investors in Asia have their eyes set on the Bank of Japan’s decision on Thursday and a meeting by China’s top legislative body to be held Nov. 4-8, where further fiscal stimulus may be announced. Asia’s regional equity benchmark is set for its worst monthly performance in a year.

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