Asian Stocks Climb to One-Year High as Commodity Producers Gain

Asian stocks climbed, trading at the highest level in a year, after U.S. shares regained records and a rally in crude futures bolstered commodity producers.

The MSCI Asia Pacific Index rose 0.1 percent to 139.98 as of 9:05 a.m. in Tokyo. Japan’s Topix index increased 0.1 percent as the yen fluctuated against the dollar. Asian stocks have climbed 24 percent from their February low as lackluster data on the world’s biggest economies fuels speculation central banks will continue to support them with stimulus and loose monetary policy. The odds the Federal Reserve will raise rates this year remains below 50 percent.

The S&P 500 Index climbed 0.3 percent on Monday, regaining an all-time high and pushing valuations to 18.6 times estimated earnings. That compares with 14.3 times for the MSCI Asia Pacific Index, data compiled by Bloomberg showed.

Source : Bloomberg

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Asian Stocks Rise After BOE Cut as Investors Await U.S. Payrolls

Asian stocks rose, paring their first drop in four weeks, after the Bank of England eased policy and as investors looked to Friday’s U.S. jobs report for hints as to the Federal Reserve’s next steps.

The MSCI Asia Pacific Index edged up 0.1 percent to 135.46 as of 9:01 a.m. in Tokyo, heading for a 0.7 percent decline this week. Japan’s Topix index added 0.2 percent after the Bank of Japan boosted daily exchange-traded fund purchases. The Bank of England cut rates to a record Thursday while unveiling a stimulus package aimed at containing the fallout from Brexit. U.S. payrolls are expected to rise in July, returning to a growth path, according to a Bloomberg survey of economists.

Asian equities are sputtering after rallying in July, their best month since March, even as countries from Japan to the U.K unveil fresh stimulus to keep global growth on track. Japan’s Topix has lost 17 percent this year as the yen surged despite a move to negative interest rates announced in January and a new round of fiscal stimulus unveiled last week.

Source: Bloomberg

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