Stocks in Asia continue to trade higher

Asian stocks rose for a fourth day, the longest winning streak in three months, as the yen sank close to the weakest level in almost four years after the Bank of Japan reiterated its intention to maintain stimulus.

Canon Inc. , a Japanese camera maker that gets 80 percent of sales abroad, gained 2.5 percent. Sharp Corp. jumped 10 percent in Tokyo as the Nikkei newspaper reported profit at the electronics manufacturer will exceed it forecasts. GS Engineering & Construction Corp. slumped 15 percent in Seoul after reporting an unexpected loss.

The MSCI Asia Pacific Index (MXAP) gained 0.6 percent to 137.06 as of 9:23 a.m. in Tokyo, before markets in China and Hong Kong open. The measure climbed the past five months on speculation Japan would unleash more stimulus and amid signs the U.S. economy is recovering.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu