Asian stocks followed
U.S. shares higher, after the regional benchmark index posted its worst
quarter since 2011, as investors awaited Chinese factory data.
The MSCI Asia Pacific
Index advanced 0.2 percent to 124.09 as of 9:01 a.m. in Tokyo. The gauge
slumped 15 percent in the three months ended September. The Standard
& Poor’s 500 Index rose 1.9 percent in New York Wednesday, its best
rally in three weeks, paring its quarterly drop to 6.9 percent.
With almost $11
trillion erased from global shares in the past three months, investors
turn to Thursday’s Chinese manufacturing reports for clues on the extent
of the slowdown in the world’s second-largest economy. Riskier markets
have been sold amid decelerating growth in China, a prolonged commodity
slump and an exodus from developing-nation assets as the U.S. prepares
to raise interest rates as soon as this year. With a week-long holiday
in China from Thursday, money managers will then assess Friday’s U.S.
payrolls report for indications on whether the job market is strong
enough to withstand tightening.
Source: Bloomberg 
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