Asian Market Update : Epic Research Malaysia

Asian stocks retreated from an almost one-year high as Japanese shares dropped after the yen rebounded and as commodity companies led losses across the region.

The MSCI Asia Pacific Index slipped 0.2 per cent to 138.35 as of 9:02 am in Tokyo after closing Tuesday at the highest since Aug 11. Material and health-care shares fell the most on the regional benchmark gauge. Japan's Topix index lost 0.5 per cent, with exporters helping send the measure lower as the yen held a 0.6 per cent gain against the US dollar.

"It's going to be quite tough for Japan with the yen strengthening," Nicholas Teo, a strategist at KGI Fraser Securities in Singapore, said by phone.

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