Asian
stocks rose, after the regional benchmark gauge capped its first weekly
advance in seven weeks, as a stress test passed by most European banks
added to signs of recovery in the region.
The
MSCI Asia Pacific Index gained 0.5 percent to 138.22 as of 9:01 a.m. in
Tokyo, the highest intraday level since Oct. 10, before markets opened
in Hong Kong and China. The gauge last week surged 2.9 percent after
U.S. earnings beat estimates and a measure of European manufacturing
unexpectedly showed expansion this month.
None
of Europe’s largest banks were found lacking in the European Central
Bank study. Smaller lenders found to be deficient now have as many as
nine months to fill gaps identified by the ECB, which is aiming to close
the door on half a decade of financial turmoil in the euro region.
Japan’s
Topix index rose 0.6 percent and Australia’s S&P/ASX 200 Index
gained 0.5 percent. South Korea’s Kospi index advanced 0.5 percent.
Markets in New Zealand are closed for a holiday. Futures on the Standard
& Poor’s 500 Index added 0.1 percent after the underlying gauge
surged 4.1 percent last week.
About
79 percent of S&P 500 companies that have reported quarterly
earnings this season have topped analysts’ estimates for profit, while
61 percent beat sales projections, data compiled by Bloomberg show.
Caterpillar Inc. and Yahoo! Inc. surged last week after posting
better-than-expected third-quarter revenue.
Source : Bloomberg
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