Asian Stocks Drop While Crude Climbs on Syria as Aussie Weakens

Bloomberg, (28/8) -- Asian stocks retreated a second day, led by Japanese shares, while crude oil extended gains on concern the U.S. will take military action against Syria. Crop futures rebounded as most precious metals rose and Australia’s dollar retreated against the greenback.The MSCI Asia Pacific Index lost 1.3 percent by 10:06 a.m. in Tokyo as Japan’s Topix Index sank 2.1 percent, set for the lowest close since June 27. Standard & Poor’s 500 Index futures rose 0.2 percent after the gauge fell 1.6 percent in New York. The Aussie dollar slid 0.4 percent to 89.49 U.S. cents and Indian rupee forwards extended declines. West Texas Intermediate crude rose a second day, adding 0.6 percent. Corn futures gained 0.9 percent and silver headed for a four-month high.