Asian stocks rose, rebounding from the benchmark index’s biggest drop since September, and the dollar appreciated on optimism the global economy is strengthening. Gold fell for a second day.
The MSCI Asia Pacific Index added 0.3 percent at 12:34 p.m. in Tokyo, following yesterday’s 1.5 percent tumble. Japan’s Topix index climbed 1.3 percent as the yen weakened for a second day. Standard & Poor’s 500 Index (SPX) futures were little changed. The dollar gained against 14 of its 16 major peers and climbed at least 0.3 percent against the South Korean won and the Australian dollar. Gold dropped 0.3 percent.
The World Bank raised its global growth forecasts as a recovery in advanced economies tempers the impact of tighter monetary conditions for developing markets. Federal Reserve officials Charles Evans and Dennis Lockhart will speak today in the U.S, where the central bank’s Beige Book business survey is due after yesterday’s retail-sales report beat estimates. China’s broadest measure of new credit fell in December while money-supply growth and new yuan loans trailed estimates.
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