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 Drop as Japan Topix Falls With Commodity Shares

Asian stocks fell for a second day, following a retreat in global equities, as commodity producers dropped with oil and copper amid lingering concerns about moderate global growth before central bank policy decisions.

The MSCI Asia Pacific Index slipped 0.8 percent to 130.60 as of 9:10 a.m. in Tokyo, paring this week’s advance to 0.6 percent. Optimism that borrowing costs will remain lower for longer amid modest global economic growth is waning ahead of a string events in the next two weeks. The looming Federal Reserve and Bank of Japan meetings next week, followed by the vote on Britain’s membership in the European Union, have the potential to roil markets.

Global equities have rebounded from the lows seen in February as commodities have rallied. Oil has surged more than 90 percent amid unexpected disruptions and a slide in U.S. output, which is under pressure from the Organization of Petroleum Exporting Countries’ policy of pumping without limits.

Source : Bloomberg

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