Asian stocks rose, paring a second weekly decline on the benchmark regional index, as data showed fewer Americans filed for jobless claims and the yen held at a six-year low against the dollar.
Mitsubishi UFJ Financial Group Inc. added 1.4 percent in Tokyo, the largest contributor to the regional gauge. IHI Corp. advanced 2.3 percent after Credit Suisse Group AG raised its rating on shares of the Japanese heavy-machinery maker. Alacer Gold Corp. soared 10 percent in Sydney after OceanaGold Corp. said it has made approaches to merge with Alacer.
The MSCI Asia Pacific Index (MXAP) advanced 0.3 percent to 144.37 as of 10:01 a.m. in Tokyo, before markets open in Hong Kong and China. The measure is heading for a 1 percent decline this week after the weakest growth in Chinese industrial output since 2008 added to evidence the world’s second-biggest economy is losing momentum.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015