Asian stocks climbed, with the regional benchmark index poised to extend a five-year high, as higher metals prices boosted raw-material producers and News Corp. jumped in Sydney after reporting profit that topped estimates.
BHP Billiton Ltd., the world’s biggest mining company, added 0.9 percent in Sydney. News Corp., the Rupert Murdoch-led media company, jumped 3 percent. Toyota Motor Corp. gained 1.7 percent on speculation the world’s largest carmaker will beat its own earnings forecast in the current fiscal year should the yen weaken further.
Enlarge image Asian Stocks Advance for Fourth Day on Earnings; Miners Rally
A pedestrian walks past an electronic stock board displaying a chart of the yen against the U.S. dollar outside a securities firm in Tokyo. Photographer: Junko Kimura/Bloomberg
The MSCI Asia Pacific Index rose 0.1 percent to 143.66 as of 9:27 a.m. in Tokyo, gaining for a fourth day, before markets in China and Hong Kong open. The measure increased 11 percent this year through yesterday amid speculation the Bank of Japan will deploy more measures to beat deflation as policy makers in the U.S. and Europe remain on standby to buoy growth.
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