Asia stocks edge lower, focus turns to China markets after ratings cut

Asian stocks slipped on Friday but showed signs steadying as the dust began to settle after the Federal Reserve’s hawkish policy statement, while investors looked to see how Chinese financial markets would react to a downgrade on the nation’s credit rating.

MSCI’s broadest index of Asia-Pacific shares outside Japan handed back earlier gains and was down 0.1 percent after falling 0.7 percent the previous day.

Japan’s Nikkei slipped 0.15 percent, Australian stocks advanced 0.1 percent and South Korea’s KOSPI fell 0.7 percent.

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