Stocks slip, yen surges on speculation of Bank of Japan policy tweak

SYDNEY : Asian stocks were off five-month highs and the yen extended a sharp rally on Friday with speculation that the Bank of Japan could take another small step toward dismantling its super-easy stimulus policies.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 per cent. Japan's Nikkei opened 1.4 per cent lower though bank shares surged to an eight-year high on the prospect of rising interest income at lenders. "Do we have more ground to cover? At this point in time I wouldn't say so," Lagarde told reporters. The euro slid nearly 1 per cent overnight and nursed losses at $1.0980 on Friday.

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