Asian stocks rose, with the regional benchmark index headed for the longest winning streak in two months, on speculation China and the U.S. will take more measures to spur growth in the worldâ€™s two biggest economies.
Electronics maker Samsung Electronics Co., which gets 48 percent of its revenue in China and America, rose 2.5 percent in Seoul. Fanuc Corp., the worldâ€™s biggest maker of industrial robots, gained 1.9 percent after Japanâ€™s machinery orders increased more than estimated in July. China Eastern Airlines Corp., the nationâ€™s second-largest carrier by passenger numbers, jumped 3.9 percent in Hong Kong after announcing plans to raise $570 million.
The MSCI Asia Pacific Index rose 1 percent to 120.47 as of 12:49 p.m. in Tokyo, headed for a five-day advance, the longest winning streak since July. About four stocks increased for each that fell. Stocks have gained since the European Central Bank announced an unlimited bond-buying program last week to quell the regionâ€™s debt crisis.
â€œIf, between the Federal Reserve, the European Central Bank and Peopleâ€™s Bank of China, we start to see some moderate easing, then definitely one of the asset classes that will benefit is equity,â€ said David Gaud, a senior portfolio manager at Edmond de Rothschild Asset Management in Hong Kong, which oversees 14 billion euros ($18 billion) in equities and convertible bonds. â€œIn China, we should be able to see a bit more easing in the coming months. Theyâ€™ve started already and thereâ€™s more room for improvement.â€
via – Bloomberg
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