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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Asia Stocks Rise, Led by Japan, as Yen Falls After U.S. Payrolls

Asian stocks rose as the yen weakened after a strong U.S. jobs report, sending Japanese exporters higher.

The MSCI Asia Pacific Index climbed 0.2 percent to 136.04 as of 9:00 a.m. in Tokyo. Japan’s Topix index gained 1.1 percent after nonfarm payrolls climbed by 255,000 last month, exceeding all forecasts in a Bloomberg survey of 89 economists. The yen fell 0.3 percent to 102.08 per dollar, after dropping 0.6 percent on Friday as demand for haven assets waned.

Asian equities are resuming a rally that halted last week after a fresh round of Japanese fiscal stimulus disappointed investors. The regional measure has climbed about 21 percent from a February low, shrugging off the effects of Britain’s vote to leave the European Union, as central banks unleash further monetary easing while data from the labor market to retail sales and industrial production spur confidence in the world’s largest economy.

Source : Bloomberg

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