Asian stocks decline, STI opens higher

A pedestrian walking past an electric quotation board displaying share prices of the Tokyo Stock Exchange (left) and the current exchange rate of the Japanese yen against the US dollar (rigth) in Tokyo, on Nov 24, 2016.
A pedestrian walking past an electric quotation board displaying share prices of the Tokyo Stock Exchange (left) and the current exchange rate of the Japanese yen against the US dollar (rigth) in Tokyo, on Nov 24, 2016. PHOTO: AFP

SINGAPORE - Most Asian stocks declined after a three-day rally as investors adopted a cautious tone ahead of key events from Opec talks to the US jobs report and Italy's referendum.

Singapore shares bucked the trend again, opening higher on Tuesday . The Straits Times Index was 0.17 per cent or 5.03 points to 2,879.68.

Japan's benchmark Topix index declined 0.4 per cent as of 9:19 a.m. in Tokyo, pulling back from its highest level since the Bank of Japan introduced negative interest rates in January. About two stocks fell for each that rose on the Topix, while the yen strengthened 0.2 per cent against the US dollar, Bloomberg reported.

Australia's S&P/ASX 200 Index rose 0.2 per cent and New Zealand's S&P/NZX 50 Index dropped 0.1 per cent. South Korea's Kospi index was little changed.

Wall street had declined at close on Monday, weighed down by a pullback in the financial and consumer discretionary sectors as some investors booked profits on the heels of a record-setting week. The Dow had ended Monday down 0.28 per cent, while the S&P 500 lost 0.53 per cent and the Nasdaq 0.56 per cent.