Asian stocks rose,
with the regional benchmark poised for the best quarter in three years
as China moved to support economic growth, sending shares higher in the
U.S. and Europe and the yen tumbling against the dollar.
The MSCI Asia Pacific
Index added 0.6 percent to 147.35 as of 9:01 a.m. in Tokyo, on course
for a 6.9 percent quarterly advance, the most since the first three
months of 2012. China’s central bank announced measures aimed at
stemming a property slump after Governor Zhou Xiaochuan said at the
weekend that policy makers can do more to support Asia’s largest
economy. The Shanghai Composite Index surged 17 percent this year
through yesterday and Japan’s Topix index added 11 percent.
The Topix gained 1.2
percent today after the yen slid 0.8 percent against the dollar on
Monday. Australia’s S&P/ASX 200 Index also climbed 1.2 percent and
New Zealand’s NZX 50 Index added 0.2 percent. South Korea’s Kospi index
rose 0.7 percent.
Futures on the FTSE
China A50 Index climbed 1.5 percent in the most recent session. Mainland
stock gains this year have been fueled by expectations of central-bank
policy easing, optimism the government won’t let economic growth fall
below this year’s 7 percent target and as authorities reduced curbs on
the property market.
Source : Bloomberg
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