Asian stocks rose for a
third day as a global rally gathered pace and the U.S. economy grew
faster than expected in the second quarter.
The MSCI Asia Pacific
Index gained 0.4 percent to 129.32 as of 9:01 a.m. in Tokyo. The gauge,
which began this week with a two-day 5.1 percent slump, has rallied the
past three days. Futures contracts indicated Chinese markets will
continue a rebound, with contracts on the FTSE China A50 Index gaining
2.3 percent and those on the Hang Seng China Enterprises Index rising
1.8 percent.
Data on Thursday
showed U.S. gross domestic product rose at a 3.7 percent annualized
rate, exceeding all estimates of economists surveyed by Bloomberg, and
up from the 2.3 percent reported last month. A separate report showed
filings for jobless benefits declined to a three-week low.
The data come as
Federal Reserve policy makers debate whether growth is strong enough to
withstand the first increase in the interest rate since 2006. Central
bankers gather at Jackson Hole, Wyoming, for a discussion on inflation
just as China’s slowdown renews fears of falling prices. Fed Chair Janet
Yellen won’t attend this year.
Source : Bloomberg
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