Asian stocks rose
after four weeks of gains, tracking a global rally that sent U.S.
equities to their highest this year, as Japanese shares led the advance.
The MSCI Asia Pacific
Index added 0.6 percent to 127.47 as of 9:01 a.m. in Tokyo, extending
its gain from this year’s low to 13 percent. The focus now turns to
policy decisions this week by the Bank of Japan, the Federal Reserve and
others after stocks jumped on Friday as investors reevaluated the
European Central Bank’s stimulus. Chinese data over the weekend showed
industrial production and retail sales both slowed in the first two
months of the year, highlighting the pressure leaders face to meet this
year’s growth target.
The Asian equity
measure has pared its loss for 2016 to 3.5 percent, spurred by a rebound
in oil, other commodities and banking shares. Stocks in Shanghai are
still one of the worst performers among 93 primary indexes tracked by
Bloomberg with a 21 percent drop this year.
Source: Bloomberg
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