Asian stocks rose for a third day after data on retail sales bolstered confidence in the strength of the U.S. economy and a weaker yen sent Japanese shares higher.
The MSCI Asia Pacific Index gained 0.2 percent to 147.81 as of 9:01 a.m. in Tokyo, headed for a 0.1 percent decline this week. Japan’s Topix index added 0.2 percent after the yen slid 0.6 percent against the dollar Thursday. The Standard & Poor’s 500 Index climbed 0.2 percent as sales at U.S. retailers picked up in May and applications for unemployment benefits remained below 300,000 for a 14th straight week. The International Monetary Fund said its team negotiating with Greece left Brussels after failing to make progress on a debt deal.
European Union President Donald Tusk told Greece’s Alexis Tsipras to stop maneuvering and decide whether to accept the conditions on financial aid. Tusk abandoned his neutral position as a broker of EU compromises to signal Greece’s creditors are preparing to hand Tsipras an ultimatum.
South Korea’s Kospi index gained 0.6 percent. New Zealand’s NZX 50 Index rose 0.1 percent. Australia’s S&P/ASX 200 Index lost 0.1 percent. Markets in China and Hong Kong have yet to open.
The Shanghai Composite Index closed 0.3 percent higher on Thursday, rising for the first time in three days as higher-than-estimated growth in industrial output and the broadest gauge of credit as well as a jump in new home sales signaled the nation’s economy may be stabili.
Source : Bloomberg