Asian Stocks Set to Track US Lower, Yen in Focus: Markets Wrap

-- Most Asian equity markets were poised to drop as US stocks fell amid signs of buyer fatigue after a rally to record highs. The yen was in focus after a six-day slump ratcheted up risks of intervention.United Airlines Jet Turns Back After Engine Piece Falls Off

On Thursday, the US Treasury had announced the addition of Japan to a foreign-exchange monitoring list as part of a report to Congress, but did not name Japan or any other country as currency manipulators. The S&P 500 may rally close to an additional 10% this year, if past market manias are any guide, according to Stifel, Nicolaus & Co. But like prior “bubble” episodes, this one eventually has to pop too.

A United Airlines Holdings Inc. plane returned to a Connecticut airport after losing part of a liner from inside the engine’s cover, another incident for a carrier already under scrutiny over a series of flight mishaps this year. Gilead Sciences Inc.’s experimental twice-yearly shot prevented 100% of HIV cases in women and adolescent girls in Africa, the first successful big trial of what’s hoped to become a powerful new drug regimen for fending off the virus.

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