Most
Asian stocks rose as Japanese equities advanced as investors weighed
economic data including inflation. Energy shares led losses after oil
prices plunged.
Almost
two shares rose for each that fell on the MSCI Asia Pacific Index,
which rose less than 0.1 percent to 140.84 as of 9:05 a.m. in Tokyo. The
measure is heading for a 0.6 percent weekly advance, paring its monthly
decline to 0.7 percent. Japans Topix index climbed 0.8 percent as the
yen fell for the first time in four days. U.S. markets were closed
yesterday for the Thanksgiving holiday.
The
Asia-Pacific measure rebounded 5.3 percent from an Oct. 17 low through
yesterday as the Bank of Japan expanded bond purchases, China cut
interest rates and speculation grew the European Central Bank will take
more stimulus measures. ECB President Mario Draghi said yesterday the
bank is open to buying a wide variety of assets for further easing.
Japans
consumer price index slowed a third straight month amid tumbling oil
prices, challenging the BOJs efforts to stoke inflation. CPI growth
excluding food fell in October to 2.9 percent from a year earlier from 3
percent the month before. Retail sales rose 1.4 percent from a year
earlier after gaining 2.3 percent in September. The economy slid into
recession last quarter after an April sales-tax increase damped consumer
spending. Industrial production unexpectedly rose.
Source : Bloomberg
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