Asian Market Update : Epic Research Malaysia

Asian equities pared their biggest weekly gain in six weeks as investors paused for breath after a rally fueled by optimism that the Federal Reserve's pace of tightening will be gradual. The dollar held its biggest slump in a month, while oil languished near a three-month low.

The MSCI Asia Pacific Index lost 0.3 per cent as Japanese shares led declines, with exporters dragged lower by the yen's advance. The Bloomberg Dollar Spot Index maintained most of the last session's 0.7 per cent retreat. Crude traded at US$40.59 a barrel. Treasuries rose Thursday as investors showed few signs of unease after the US central bank signaled it's likely to raise interest rates next month.

"The Fed has made it clear that its base case is for a lift-off in December and if they were to break that, it would be a huge, market-moving event," said Evan Lucas, Melbourne-based strategist at IG Ltd.

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