Asian Stocks Advance After Fed Signals Gradual Rate Increases

Asian stocks rose for the first time in four days after the Federal Reserve said the pace of U.S. monetary-policy tightening will be gradual, with the central bank preparing to raise interest rates this year.

The MSCI Asia Pacific Index gained 0.4 percent to 146.71 as of 9:01 a.m. in Tokyo.  The Topix index slipped 0.2 percent as the Bank of Japan starts a two-day policy meeting.

Australia’s S&P/ASX 200 Index fell 0.1 percent and South Korea’s Kospi index advanced 0.6 percent. New Zealand’s NZX 50 Index lost 0.1 percent after the country’s economy grew less than forecast in the first quarter.

Source : Bloomberg

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