Asian Stocks Retreat From Five-Month High Before Yellen Speech
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Asian stocks declined, with the regional benchmark index retreating from a five-month high, as investors await progress on Greece’s bailout extension and testimony to Congress by Federal Reserve Chair Janet Yellen.
Sands China Ltd. sank 2 percent in Hong Kong, pacing losses among casino operators after Credit Suisse Group AG predicted Macau gaming revenue will be weak during the Lunar New Year holiday. Takata Corp. slumped 2.6 percent in Tokyo after U.S. regulators said they will begin to fine the car-parts maker for not fully cooperating with an investigation into exploding airbags. Medical-equipment maker Terumo Corp. added 1.1 percent after a report operating profit may climb to a record.