Asian stocks climbed, with the regional benchmark index extending a seven-year high, after U.S. equities advanced to records. Materials shares led the advance.
The MSCI Asia Pacific Index rose 0.2 percent to 156.40 as of 9:01 a.m. in Tokyo after closing Friday at its highest since January 2008. The Nasdaq Composite Index posted a fresh record and the Standard & Poor’s 500 Index closed at an all-time high as Google Inc., Microsoft Corp. and Amazon.com Inc. rallied after posting quarterly results. E-mini futures on the S&P 500 were little changed today.
“Markets are going to move higher until we get some news that stops them,” Tim Schroeders, a portfolio manager who helps oversee about $1 billion in equities at Pengana Capital Ltd. in Melbourne, said by phone. “The reporting season in the U.S. so far looks OK. There’s not been any show stoppers yet,” he said. “Greece has the potential to put things on hold.”