TOKYO – Asian shares followed Wall Street lower in early trading Friday amid oil prices near their highest level in almost a month due to optimism OPEC plan to cut output.
Launch Reuters on Friday (09/30/2016), the MSCI index of Asia Pacific shares outside Japan .MIAPJ0000PUS fell 0.5 percent. Japan’s Nikkei .N225 fell 1.5 percent after sluggish consumption data.
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Some board members doubted whether the Bank of Japan’s central bank fixes from a massive stimulus program, announced last week will increase the flexibility of monetary policy.
As is known, the Japanese consumer prices in August fell 0.5 percent from a year earlier. Meanwhile, consumer prices in the Tokyo area fell 0.5 percent in September, as the fastest decline since 2013.
On the other hand, South Korea’s KOSPI index .KS11 slid 0.8 percent after manufacturing activity contracted for a second month in September is very low in 14 months. Then in August industrial output posted its biggest drop in 19 months.