Roaring Start For Asian Stocks As Nikkei Jump To Fresh 6 Years High

Asian stocks rose, with the regional benchmark poised for its longest winning streak in three months, as Japanese stocks extended gains as the yen headed for a five-year low.

Toyota Motor Corp., the world’s biggest carmaker, advanced 2.1 percent in Tokyo. SoftBank Corp. added 1.3 percent in Tokyo on a report it’s likely to raise funds to buy T-Mobile US Inc. in the U.S. bond market. Consumer discretionary shares rose the most among the MSCI Asia Pacific Index’s industry groups while information technology stocks fell.

The MSCI Asia Pacific Index added 0.2 percent to 139.53 as of 9:21 a.m. in Tokyo. Japan’s Nikkei 225 Stock Average gained 0.8 percent after yesterday closing above 16,000 for the first time since December 2007. The yen has slid as the Bank of Japan continues unprecedented easing while the Federal Reserve prepares to pare stimulus starting January.


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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