Asian Stocks Advance as U.S. Retail Sales Ease Rate-Rise Concern

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Asian stocks rose, following a rebound in U.S. shares, after an unexpected drop in American retail sales strengthened the case for keeping interest rates lower for longer in the world’s largest economy.

The MSCI Asia Pacific Index advanced 0.1 percent to 144 as of 9:01 a.m. in Tokyo, paring this week’s decline to 1 percent. Rate bets were tempered Thursday after retail sales slipped for a third straight month. The Standard & Poor’s 500 Index jumped 1.3 percent after faltering earlier this week as a better-than-forecast U.S. jobs report raised concern the Federal Reserve will increase rates sooner than some expected.

Japan’s Topix index added 0.3 percent. South Korea’s Kospi index advanced 0.9 percent and Australia’s S&P/ASX 200 Index slid 0.3 percent. New Zealand’s NZX 50 Index gained 0.3 percent.

Futures contracts on Hong Kong’s Hang Seng Index rose 0.3 percent, while contracts on the Hang Seng China Enterprises Index of mainland firms listed in the city advanced 0.5 percent. Singapore-traded futures on the FTSE China A50 Index climbed 0.6 percent.

Source : Bloomberg