Asia stocks drop ahead of Chinese holidays

Posted by Forexsq 569 days ago (http://www.marketwatch.com)
img Most Asian markets fell Thursday, with Japanese shares retreating from their highest level since September 2008 as the yen appreciated, while Chinese stocks slipped ahead of the Lunar New Year holiday.

Japan’s Nikkei Stock Average JP:100000018 -0.93% lost 0.9% after Wednesday’s 3.8% surge, while Hong Kong’s Hang Seng Index HK:HSI -0.34% slid 0.3% and China’s Shanghai Composite Index CN:000001 -0.66% fell 0.7% ahead of next week’s Lunar New Year holidays.

“I think that investors are packing away for the New Year holiday. That’s why trading motivation is not great,” KGI Asia chief operating officer Ben Kwong said.

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