Asian stocks remove losses after Australian lenders appreciate

Asian stocks removed earlier losses on speculation the regional benchmark index decline was excessive as exporters from Japan pared losses after the Yen dropped. Meanwhile Australian equities advanced and recovered from a nine- months drop. The MSCI Asia Pacific Index slid 1.3% to 133.50, Australia's S&P/ASX 200 Index soared 0.9%, New Zealand's NZX 50 Index advanced 1.1%, South Korea's Kospi Index added 0.1% and Japan's Nikkei 225 Stock Average plunged 0.5% after the Yen fell versus all of 16 major peers.