Asian Stocks Climb Before Payroll; Ringgit Gains With Oil Asian stocks rose, with the regional index headed for its longest stretch of weekly gains since September, as Japanese equities climbed amid a weaker yen. Emerging-market currencies from Malaysia to Thailand strengthened versus the dollar as oil climbed a second day. The MSCI Asia Pacific Index added 0.5 percent by 9:23 a.m. in Tokyo, set for the highest close since Jan. 22. Japan’s Topix Index jumped 0.9 percent in a fourth day of gains as the yen held near a five-week low. Standard & Poor’s 500 Index (SPX) futures rose 0.1 percent. Malaysia’s ringgit, the Korean won and Thai baht climbed at least 0.1 percent. Australia’s dollar was near a three-month high as the central bank chief addressed lawmakers. Oil in New York rose 0.2 percent and rubber rose. Global stocks are trading at their most expensive level this year, with MSCI’s gauge of world equities up 0.6 percent in a fifth week of gains as concern eases that Russia’s incursion into Ukraine will spark a broader conflict. Reserve Bank of Australia Governor Glenn Stevens said talking down the currency has limited impact. Economists predict U.S. payrolls data today will show hiring rose last month to a level below last [...] newsintx/asian-stocks-climb-before-payroll-ringgit-gains-with-oil/
Posted on: Fri, 07 Mar 2014 01:20:18 +0000
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