Asian stocks rose on the final day of the quarter, tracking a late rally in U.S. shares, as the regional benchmark index headed for its worst three months since the financial crisis.
The MSCI Asia Pacific Index gained 0.3 percent to 121.40 as of 9:00 a.m. in Tokyo. The measure has slumped 17 percent since the end of June, on course for the biggest drop since the quarter ended September 2008. It’s down 6.6 percent for the month.
Stocks have been volatile in recent weeks amid confusion over the Federal Reserve’s position on raising interest rates and concern the slowdown in China’s economy will curb demand for commodities and impact global growth. China starts a five-day holiday Thursday.
Japan’s Topix index advanced 1.5 percent after tumbling 4.4 percent on Tuesday. South Korea’s Kospi index lost 1.4 percent today as it reopened from a two-day holiday. Australia’s S&P/ASX 200 Index added 0.1 percent, and New Zealand’s NZX 50 Index slid 0.4 percent.
Futures on Hong Kong’s Hang Seng Index rose 0.7 percent in most recent trading, while those on the Hang Seng China Enterprises Index added 0.9 percent. The H-share gauge slid 3 percent on Tuesday, the biggest loss in a month, while the Hang Seng measure dropped 3 percent to a two-year low.
Source : Bloomberg