Asian stocks climbed for a fourth day, with the regional benchmark index extending a six-month high, as industrial shares and health-care firms rose.
The MSCI Asia Pacific Index (MXAP) added 0.2 percent to 141.79 as of 9:40 a.m. in Hong Kong. The gauge rebounded 8.7 percent through yesterday from this year’s low in February amid optimism the U.S. economy can withstand a reduction in Federal Reserve stimulus and that Chinese policy makers will step in to bolster slowing growth.
China Premier Li Keqiang’s comments last week that the nation will fine-tune policy when needed showed a significant change in his tone, and may lead to incremental stimulus such as looser borrowing conditions and support for the property industry, Goldman Sachs Group Inc. economists led by Yu Song wrote in a note dated yesterday.
The MSCI Asia Pacific Index (MXAP) added 0.2 percent to 141.79 as of 9:40 a.m. in Hong Kong. The gauge rebounded 8.7 percent through yesterday from this year’s low in February amid optimism the U.S. economy can withstand a reduction in Federal Reserve stimulus and that Chinese policy makers will step in to bolster slowing growth.
China Premier Li Keqiang’s comments last week that the nation will fine-tune policy when needed showed a significant change in his tone, and may lead to incremental stimulus such as looser borrowing conditions and support for the property industry, Goldman Sachs Group Inc. economists led by Yu Song wrote in a note dated yesterday.
Japan’s Topix (TPX) index added 0.6 percent as the yen was little changed at 101.93 per dollar, holding near a 1 1/2-week low. South Korea’s Kospi index lost 0.4 percent. Australia’s S&P/ASX 200 Index and New Zealand’s NZX 50 Index both slid 0.1 percent.
Hong Kong’s Hang Seng Index dropped 0.2 percent. The Hang Seng China Enterprises Index of mainland companies traded in the city fell 0.4 percent. The Shanghai Composite Index slid 0.1 percent. Taiwan’s Taiex index and Singapore’s Straits Times Index both added 0.1 percent.
Source: Bloomberg
