Tuesday, March 31, 2015

Asian Equities Decline on U.S. Lead

Asian stocks fell after the regional equity gauge posted its steepest quarterly advance since 2013. Material and consumer shares led declines.

The MSCI Asia Pacific Index slid 0.3 percent to 145.85 as of 9:01 a.m. in Tokyo. The measure on Tuesday completed its best quarter since the period ended September 2013, rising 6.1 percent, as China boosted stimulus. Valuations on the gauge rose last week to the highest since May 2010.

“This is going to be a tougher quarter and you can expect higher volatility,” said Nader Naeimi, who helps manage about $118 billion as Sydney-based head of dynamic asset allocation at AMP Capital Investors Ltd. “We have raised cash levels and now have less in equities than in the past year. You need to have some powder dry to buy into the market if we have a correction.”

Bloomberg

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