Asian Equities Higher as Tensions Ease

Asian stocks rose, with the regional index climbing to its highest level this month, as global geopolitical concerns eased amid a rally in U.S. technology shares. Australian bonds followed Treasuries lower as the New Zealand dollar weakened, while crude oil advanced.

The MSCI Asia Pacific Index rose for the sixth time in seven days, adding 0.4 percent by 9:58 a.m. in Tokyo as Japan’s Topix gauge rose 0.6 percent. Nasdaq 100 Index futures gained 0.1 percent after the U.S. technology index rose to the highest level since 2000. Ten-year Australian bonds fell with New Zealand debt, as the kiwi lost 0.6 percent amid a drop in producer prices and as the government cut forecasts for economic growth and the budget surplus. Oil in New York rose 0.3 percent.

The Red Cross is close to working out details of a safe-passage plan for a Russian aid convoy intended for Ukraine, while in the Middle East, Israel and Palestinian militants agreed to extend their five-day truce for 24 hours. Australia’s central bank issues minutes of its last meeting today, while the U.S. reports on inflation after data showed confidence among homebuilders has risen to a seven-month high. Central bankers meet in Jackson Hole, Wyoming, this week.

Bloomberg

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