Asian stocks gained, with the regional benchmark index poised to advance for the eighth time in nine days, after a report showing China’s new credit increased to a record in January.
The MSCI Asia Pacific Index added 0.5 percent to 135.97 as of 9:03 a.m. percent in Tokyo. The gauge climbed 1.6 percent last week, capping its first weekly increase this year, as trade data from China beat estimates and Janet Yellen’s first official address as head of the Federal Reserve buoyed optimism about the U.S. economy.
Japan’s Topix index rose 0.2 percent. The nation’s economy grew less than forecast in the final quarter of last year, according to a report today. Gross domestic product expanded an annualized 1.0 percent from the previous quarter, the Cabinet Office said in Tokyo. That compared with the 2.8 percent median estimate of economists surveyed by Bloomberg News.
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