Asian Market Update : Epic Research Malaysia

Asian stocks headed for a third weekly loss and bond risk rose amid concern a US payrolls report will reinforce prospects the Federal Reserve will raise interest rates. Oil rebounded from a 4 1/2-month low.

The MSCI Asia-Pacific Index fell 0.4 per cent by 10:51 am in Tokyo, bringing the week's decline to 1.1 per cent. US Standard & Poor's 500 Index futures were little changed. The Australian dollar rose 0.3 per cent as the central bank indicated the jobless rate has peaked. The yen headed for a weekly loss before the Bank of Japan announces policy.

US stocks slumped yesterday before a payrolls report Friday that may add to evidence the economy is robust enough to embolden the Fed to raise near-zero interest rates. The MSCI Emerging Markets Index declined 0.8 per cent on Thursday to the lowest in two years, after benchmark gauges in Malaysia, Poland, Russia and Taiwan dropped more than 1 percent.

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