Connecticut lawmakers agreed on a bipartisan measure that would ban sales of semiautomatic rifles like the one used in the Newtown school massacre and require background checks on buyers in all firearms transactions.
Asian shares fell this week, with the benchmark index extending its longest streak of weekly declines since June 2011, as investors shunned risk in a global rout that wiped $1.7 trillion from equities this year.
Japanese and Australian stock futures rose after Federal Reserve Chairman Ben S. Bernanke signaled further monetary easing. Gains in Asian equities may be limited after China’s manufacturing unexpectedly contracted in August and the yen’s rise to a three-week high against the dollar weighs on Japanese exporters.
Asian stocks rose for a second straight week with Japan’s Topix reaching its highest since 2008 as the yen weakened to a five-year low and as U.S. data added to evidence the world’s largest economy is strengthening.
The euro weakened the most in six months versus the dollar as inflation in the region slowed more than forecast and improving U.S. economic data fueled speculation the Federal Reserve will taper stimulus in coming months. Treasuries, gold and U.S. stocks retreated.
Donald Williams, Sydney-based chief investment officer at Platypus Asset Management Ltd., which manages about $1 billion, comments on Asian equities. The MSCI Asia Pacific Index fell 1.4 percent to 111.57 as of 11:01 a.m. in Tokyo.
Asian stocks fell, trimming the best two-month rally for the regional benchmark gauge since the start of 2012, after the Federal Reserve fueled bets it may start paring stimulus sooner than previously forecast.
Hong Kong stocks fell, with the city’s benchmark index falling to near a 10-week low, after China’s leaders failed to give details about a policy shift after a summit to discuss reform and amid bets the Federal Reserve will cut stimulus sooner than expected.