Asian Equities Higher with U.S. Dollar

Asian stocks climbed and the dollar extended a four-year high after surging U.S. new-home sales signaled improvement in the world’s biggest economy. Gold headed for its lowest close in eight months.

The MSCI Asia Pacific Index added 0.3 percent at 9:58 a.m. in Tokyo, with the Topix index advancing 0.9 percent. Standard & Poor’s 500 Index futures were little changed after the U.S. gauge halted a three-day drop. The U.S. currency strengthened against most major peers as the yen slid and the euro held at $1.2780 after yesterday falling below $1.28 for the first time in 14 months. Gold fell to $1,214.30.

The U.S. reports durable-goods orders and initial jobless claims numbers today after new-home sales surged in August to the highest level in more than six years, a sign that the housing recovery is making progress. Investors will look to tomorrow’s private report of German consumer sentiment after a gauge of business confidence fell more than forecast in September. Reserve Bank of Australia Governor Glenn Stevens will speak in Melbourne.

Bloomberg

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