Asian Equities to Four Month High

Asian stocks rose to the highest level in more than four months, led by Japanese shares, on signs of growth in the world’s largest economies. Palladium retreated from a 33-month high, while Thailand’s baht advanced, regaining some of yesterday’s losses following a military coup.

The MSCI Asia Pacific Index added 0.4 percent by 2:20 p.m. in Tokyo, set for the highest close since the start of January. Japan’s Topix index rose 1.1 percent. Futures on the Standard & Poor’s 500 Index (SPX) and FTSE 100 Index were little changed. The euro headed for a third week of losses, while the baht gained 0.2 percent. Palladium declined for the first day in six and platinum slid 0.3 percent. Credit risk in Asia fell a third day.

The U.S. reports new home sales today after yesterday following China with better-than-estimated manufacturing data, while German business confidence due today is forecast to fall. Thailand’s army staged its 12th coup in eight decades as the army chief said he was seizing control to restore peace. In Ukraine, 16 soldiers were killed in an attack by pro-Russian insurgents, before the presidential election this weekend.

Bloomberg

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