Asian Stocks Fluctuate as Australian Insurers Decline, Oil Producers Gain

Asian stocks fluctuated as Australian insurers dropped as flooding in Australia worsened and energy producers advanced after crude oil futures increased.

Suncorp Group Ltd., the country’s biggest Brisbane-based insurer, and Insurance Australia Group Ltd. fell at least 1 percent in Sydney. LG Chem Ltd., South Korea’s largest chemicals maker, declined 2.3 percent on speculation its battery designs have been compromised after partner Renault SA’s electric-car secrets were disclosed. Woodside Petroleum Ltd., Australia’s second-largest oil and gas producer, rose 0.6 percent as crude oil futures rose for the first time in three days after leak forced the shutdown of an Alaskan crude pipeline.

The MSCI Asia Pacific Excluding Japan Index was little changed at 477.15 as of 9:44 a.m. in Hong Kong, with six stocks declining for every five that advanced. The gauge climbed to a two-month high on Jan. 4 as data on U.S. manufacturing and services industries boosted optimism that a recovery in the world’s largest economy is strengthening.

Australia’s S&P/ASX 200 Index and New Zealand’s NZX 50 Index were little changed. South Korea’s Kospi Index fell 0.2 percent. Singapore’s Straits Times Index pared gains. Taiwan’s Taiex Index retreated 0.1 percent. Japanese markets are closed for a holiday.

Futures on the Standard & Poor’s 500 Index lost 0.2 percent. The index fell 0.2 percent on Jan. 7 after the world’s biggest economy added fewer jobs than forecast.