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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Hedge funds rush to buy China stocks on economy stimulus prospects - Goldman(Fixes typographical error in the last paragraph, no change to story)By Summer ZhenHONG KONG :Global hedge funds snapped up Chinese equities following the politburo meeting this week, buying on Tuesday at their fastest pace since October 2022, Goldman Sachs said in report. The higher inflows we
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