Asian Stocks Rally Up to 2008 Levels

Asian stocks rose, with the regional benchmark index touching the highest level since June 2008, after U.S. housing sales gained and amid speculation central banks will keep stimulating growth.

Samsung Electronics Co. , South Korea’s biggest exporter of consumer electronics, rose 1.7 percent. Australia & New Zealand Banking Group Ltd. (ANZ), Australia’s third-largest lender, gained 4.7 percent in Sydney after saying first-half cash profit climbed 10 percent as costs fell. Honda Motor Co. dropped 3.1 percent after Japan’s second-biggest automaker by market value forecast profit that missed analyst estimates.

The MSCI Asia Pacific Index added 0.5 percent to 141.19 at 9:26 a.m. in Tokyo before markets in Hong Kong opened. The measure has advanced 4.1 percent this month, poised for the biggest monthly gain since June.


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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