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Asian Equities Higher after Global Rebound

Asian stocks rose, joining a global rebound after the downing of a passenger jet in Ukraine and Israel’s invasion of Gaza roiled markets. Emerging-market currencies climbed while corn fell to the lowest since 2010.

The MSCI Asia Pacific excluding Japan Index advanced 0.3 percent as of 10:50 a.m. in Hong Kong, with three stocks rising for every two that fell. Futures on the Standard & Poor’s 500 Index (SPX) were little changed after the U.S. gauge climbed from its biggest loss in three months. Indonesia’s currency added 0.4 percent versus the dollar before the result of presidential elections is announced. Corn slumped 1.3 percent on U.S. production. Natural gas slid 2 percent.

Asian equities are following a July 18 jump in the U.S., where better earnings from Google Inc., the world’s third-largest company, refocused investors on economic growth amid crises in the Middle East and Ukraine. Halliburton Co. is among companies reporting today, while Internet bellwethers Facebook Inc. and Netflix Inc. release earnings later in the week. European Union foreign ministers meeting in Brussels tomorrow will consider tougher sanctions on Russian individuals and companies.

Bloomberg [1]

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