Asian
stocks climbed with U.S. index futures and copper, while the yuan
slipped to a two-year low as traders weighed China’s interest-rate cut
amid signs of weakness in manufacturing. Oil fell following its first
monthly gain since June.
The
MSCI Asia Pacific Index rose 0.1 percent by 9:16 a.m. in Tokyo, as
equity gauges from Japan to Australia advanced at least 0.2 percent.
Standard & Poor’s 500 Index futures added 0.2 percent after three
days of losses in the benchmark gauge, while copper futures jumped 0.5
percent. China’s currency touched its weakest level since October 2012
in offshore trading, as the Australian and New Zealand dollars
retreated. Oil in New York and London dropped at least 0.6 percent with
OPEC output exceeding its quota for a ninth month in February.
Source: Bloomberg
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