Asian stocks paused their September surge but Shanghai shares underlined their status as the region’s main contrarian indicator by hitting their highest levels in nearly fourth months.
The FTSE Asia-Pacific index slipped 0.2 per cent to 233.99, breaking a four-session advance that saw the region’s shares gain 4.6 per cent since the start of the month, with yen strength once again undermining Tokyo stocks.
“Markets may be taking a breather after four straight days of gains,” said Nader Naeimi, of AMP Capital Investors. “We haven’t seen convincing signs that the yen will substantially weaken and that’s bad news for the Japanese economy and share market.”
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