Asian stocks outside Japan climbed for a third day as telecommunication and technology shares led gains and Qantas Airways Ltd. surged. A rising yen dragged shares lower in Tokyo.
Qantas climbed 7.5 percent after Australia’s No. 1 carrier posted a narrower than forecast annual loss and said it will return to profit in the first half of 2015. Samsung Electronics Co. rose 1.7 percent in Seoul, the largest contributor to gains on the regional index. Country Garden Holdings Co. (2007) retreated 6.6 percent in Hong Kong after the property developer said it plans to raise HK$3.18 billion ($410 million) in a share sale to refinance debt.
The MSCI Asia Pacific excluding Japan Index added 0.1 percent to 514.69 as of 9:48 a.m. in Hong Kong, with six of its 10 industry groups advancing. The Standard & Poor’s 500 Index paused its gains yesterday after a rally that sent the value of global equities to a record $66 trillion.