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Asian Equities Extend Gains

Asian stocks rose, with the regional benchmark measure extending gains after capping the biggest daily rally in almost two months, amid optimism that geopolitical risks are receding.

Samsung Electronics Co. added 1.3 percent in Seoul while BHP Billiton Ltd. rose 1.4 percent in Sydney, the biggest boosts to the regional index. Itochu Corp. gained 1 percent after Bunge Ltd. said it will buy out the Japanese trading company’s stake in Brazilian sugar and ethanol plants. Woolworths Ltd. fell 1.4 percent after the Australian retailer said it expects higher losses from its home-improvement unit.

The MSCI Asia Pacific Index (MXAP) added 0.2 percent to 146.19 as of 9:16 a.m. in Tokyo after surging 1.2 percent yesterday, the most since June 19. The measure lost 2.4 percent last week on concern about conflicts in Ukraine and the Middle East.

Bloomberg [1]

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