Asian stocks dropped for a sixth day as the yen held two days of gains, curbing the earnings outlook for Japanese exporters. Trading is due to resume in Hong Kong following a two-day holiday.
The MSCI Asia Pacific Index (MXAP) declined 0.1 percent to 138.35 as of 9:00 a.m. in Tokyo, before markets open in Hong Kong. The gauge is down 2.6 percent this week, on course for the biggest weekly drop in six months. The measure has retreated 7.4 percent from a six-year high in July.
Pro-democracy leaders in Hong Kong said they will escalate protests if their demands aren’t addressed. European Central Bank’s President Mario Draghi said the central bank will buy assets for at least two years to boost inflation and economic growth in the euro area. U.S. jobless claims unexpectedly dropped last week, data showed yesterday. A report on American payrolls is due to be released today.
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