The MSCI Asia Pacific Index sank 1.2 percent by 9:54 a.m. in Tokyo, set for its lowest close since Feb. 10 and a 3 percent drop in the week, the first decline in more than a month. The Nikkei 225 Stock Average slid 2.4 percent, posting the worst weekly drop among developed markets. Standard & Poor’s 500 Index futures rose 0.2 percent after the U.S. gauge erased 2014 gains. The won touched a 1 1/2-week low as the Malaysian and Thai currencies slipped. Gold advanced to a six-month high.
Australia’s S&P/ASX 200 Index sank 1.5 percent today for its steepest one-day drop in five weeks. The country counts China as its biggest trading partner. The Kospi Inde in Seoul lost 0.5 percent, bringing its first weekly decline in a month to 0.3 percent.
The won lost 0.2 percent to 1,071.48 per dollar after earlier dropping to the weakest intra day level since March 4. South Korea’s currency is down 1 percent this week, the biggest drop among 12 Asian currencies tracked by Bloomberg. The Malaysian ringgit weakened 0.3 percent to 3.2822 a dollar as the Thai baht lost 0.1 percent.Japanese Yen, was little changed at 101.84 per dollar today, after climbing 0.9 percent in the previous session.