Asian Stocks Decline as BOJ Refrains From Further Easing
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Asian stocks fell for a fourth day, with the regional benchmark index posting its longest losing streak since January, as the yen strengthened and the Bank of Japan refrained from adding to monetary stimulus.
Raw-material suppliers retreated, with Fortescue Metals Group Ltd. losing 2.4 percent in Sydney after benchmark prices for iron-ore delivered to China’s Tianjin port dropped to the lowest since 2012. Mazda Motor Corp. fell 2.4 percent as the yen traded near its strongest level in more than three months. Japan Petroleum Exploration Co. led energy suppliers higher, jumping 8 percent, after its stock rating was raised by SMBC Nikko Securities Inc.