Asian stocks climbed, with the regional benchmark index touching the highest level since August 2011, after U.S. shares surged to a record as the service industry expanded at the fastest pace in a year and investors bet central banks will continue stimulus measures.
Toyota Motor Corp., the world’s biggest carmaker, rose 1.5 percent in Tokyo. Sharp Corp. jumped 15 percent after Japanese broadcaster NHK reported Samsung Electronics Co. may invest in the loss-making television manufacturer. Nufarm Ltd., Australia’s largest supplier of farm chemicals, advanced 5.8 percent after Credit Suisse Group AG raised its rating.
The MSCI Asia Pacific Index (MXAP) gained 1 percent to 135.67 as of 10:39 a.m. in Tokyo, with almost four shares rising for each that fell. The gauge last week capped a four-month advance, the longest such winning streak since September 2009, as central banks around the world maintained loose monetary policies to support economic growth.
This article 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 Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.