Asian
stocks rose, following U.S. shares higher, as expectations for an
immediate hike in U.S. interest rates remained low even after
better-than-expected economic reports.
The
MSCI Asia Pacific Index climbed 0.4 percent to 126.49 as of 9:19 a.m.
in Tokyo, after slumping last week by the most since Feb. 12. The
Standard & Poor’s 500 Index rose to its 2016 high on Friday after
data showed employment and wages picked up in March, while U.S.
manufacturing expanded for the first time in seven months. The chance of
a hike at the Fed’s next meeting fell to zero after Chair Janet Yellen
reaffirmed the go-slow approach in a speech last week.
Japan’s
Topix index and South Korea’s Kospi index were little changed.
Australia’s S&P/ASX 200 Index and New Zealand’s S&P/NZX 50 Index
added 0.2 percent. Markets in mainland China, Hong Kong and Taiwan are
shut for holidays today.
Source: Bloomberg
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