Asia Stocks Advance Third Day on Central Bank Easing Speculation
Asian stocks rose for a third day on speculation and global central banks will take steps to boost economic growth. The yen weakened against the dollar and euro, lifting earnings outlooks for exporters.
The MSCI Asia Pacific Index gained 0.5 percent to 120.19 as of 9:04 AM in Tokyo, with seven stocks rising for each that fell. The gains came before the open of markets in Hong Kong and China.
Japan’s Nikkei 225 Stock Average climbed 1.3 percent, while South Korea’s Kospi Index rose 0.6 percent. Australia’s S&P/ASX 200 Index increased 0.3 percent and New Zealand’s NZX 50 Index gained 0.1 percent.