Asian stocks fluctuate amid policy uncertainty
On Thursday, Asian stocks fluctuated, as market participants grappled with the diminishing ability of key banks to stimulate growth, while a dip in crude oil prices contributed to the risk-averse mood.
While hopes over a Fed rate lift at next week's gathering have faded, traders are bracing for a tightening before year-end.
Meanwhile, perceived limits to the extensive monetary easings led by key banks, including the European Central Bank as well as the Bank of Japan have soured broader risk sentiment, `thus pushing global debt yields higher.
Apart from that, outside Japan, MSCI's broadest index of Asia-Pacific stocks slumped 0.1%.
Australian stocks lost 0.2%, Shanghai SSEC was deprived of 0.7%, South Korean Kospi edged up 0.4%, while Japanese Nikkei fell more than 1% to a three-week minimum.
Worries that the Bank of Japan’s struggling to come up with efficient policy are making traders risk averse.