Asian Equities Higher Led by Tech Stocks

Asian stocks rose, led by technology companies, as investors awaited data from China on gross domestic product, factory output and retail sales.

The MSCI Asia Pacific Index (MXAP) gained 0.1 percent to 137.74 as of 9:05 a.m. in Tokyo. The Shanghai Composite Index tumbled 7.7 percent yesterday, the most since June 2008, after three of the nation’s biggest brokerages were suspended from adding margin-trading accounts. Volatility is set to persist ahead of today’s economic reports and a European Central Bank meeting later in the week, according to Paterson Securities Ltd.

“There are plenty of things happening around to have people looking over their shoulders,” Tony Farnham, a strategist at Paterson Securities in Sydney, said by phone. “We’ve got Chinese data today, the ECB meeting on Thursday and the Greek elections over the weekend.”

Bloomberg

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