Asian
stocks climbed for a sixth day, heading for the longest winning streak
in six months, as rising crude prices buoyed energy producers and a
weaker Japanese currency boosted shares in Tokyo.
The
MSCI Asia Pacific Index rose 0.9 percent to 128.81 as of 9:07 a.m. in
Tokyo. Japan’s Topix index added 1.6 percent as the yen held Tuesday’s
losses. Crude yesterday jumped to its highest level since November on
prospects Russia and Saudi Arabia have forged a deal on freezing oil
output. Industrial metal and iron ore prices also gained. The Standard
& Poor’s 500 Index increased 1 percent. Attention now turns to
Chinese trade data due Wednesday.
Australia’s
S&P/ASX 200 Index gained 0.7 percent and New Zealand’s S&P/NZX
50 Index rose 0.6 percent. Markets in South Korea and Thailand are
closed Wednesday.
Futures
on the Hang Seng Index rose 0.9 percent, while contracts on the Hang
Seng China Enterprises Index of mainland firms listed in Hong Kong added
1 percent in most recent trading. Futures on the FTSE China A50 Index
climbed 0.3 percent. Data Wednesday may show the trade surplus widened
to $34.95 billion in March compared with $32.59 billion the previous
month.
Source: Bloomberg
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