Asian stocks climbed,
building on their biggest five-day advance in almost four years, as
Samsung Electronics Co. jumped after quarterly profit topped estimates
and investors awaited a Bank of Japan decision on monetary policy.
The MSCI Asia Pacific
Index rose 0.2 percent to 129.23 as of 9:03 a.m. in Tokyo, as Samsung
rallied 3.8 percent to provide the biggest boost to the regional gauge.
The company posted third-quarter profit that beat analysts estimates as
the weaker Korean currency boosted component revenue and blunted the
impact of price cuts on Galaxy smartphones. Japan’s Topix index added
0.2 percent before BOJ board members and Governor Haruhiko Kuroda decide
whether to expand already unprecedented monetary stimulus.
Thirty-four of 36
analysts forecast that the Japanese central bank will forgo further
easing, with just two predicting a move, according to a Bloomberg
survey. Fifteen are forecasting additional stimulus at the next meeting
on Oct. 30.
Australia S&P/ASX
200 Index slid 0.4 percent and New Zealand’s S&P/NZX 50 Index was
little changed. South Korea’s Kospi index rose 0.4 percent. Mainland
Chinese markets remain closed for a holiday, while Hong Kong is yet to
open.
Source : Bloomberg
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