Thursday, May 22, 2014

Asian Stocks Extend Weekly Increase on U.S. Manufacturing, Yen



Asian stocks rose, with the regional benchmark extending its weekly advance, after data showed U.S. manufacturing expanded and as the yen held yesterday��s losses.

The MSCI Asia Pacific Index added 0.2 percent to 140.513 as of 9:02 a.m. in Tokyo, heading for a 0.6 percent gain this week. Japan��s Topix index rose 0.6 percent as the yen was little changed at 101.79 per dollar after falling 0.4 percent yesterday. Markets in Hong Kong and China are yet to open.

South Korea��s Kospi index slipped 0.1 percent. Australia��s S&P/ASX 200 Index gained 0.1 percent, while New Zealand��s NZX 50 Index added 0.2 percent.

Thailand��s army chief took control of the country and suspended the constitution after a six-month crisis that has sapped economic growth and caused political paralysis, staging the military��s 12th coup since 1932.

Two days after declaring martial law and saying there was no coup, Army Chief Prayuth Chan-Ocha announced on national television alongside senior military officials yesterday that he was seizing control to restore peace.

Source : Bloomberg

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