Asian Stocks Near Three-Month High

Asia’s benchmark stocks index traded near a three-month high after Japanese machinery orders accelerated less than expected and as investors await the outcome of the Federal Reserve’s meeting next week.

Fanuc Corp., a maker of industrial automation systems, added 0.7 percent in Tokyo. Qantas Airways Ltd. (QAN), Australia’s largest carrier, climbed 2.9 percent after the Australian Financial Review reported it may share its Sydney terminal with unit Jetstar Airways. Futures on the Hang Seng Index fell 0.2 percent, signaling Hong Kong shares will fall for a second day.

The MSCI Asia Pacific Index was little changed at 137.68 as of 9:33 a.m. in Tokyo, before markets in China and Hong Kong open. The measure climbed 6.6 percent in the past 10 days amid signs the global economy is improving. The rally drove the gauge’s 14-day relative strength index, an indicator of trading momentum, to 67 yesterday, near a threshold of 70 that signals to analyst shares may have risen too far.


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