Asian stocks rose after equity indexes in the U.S. and Europe posted multi-year highs amid optimism over developments in Ukraine and Greece.
The MSCI Asia Pacific Index gained 0.6 percent to 142.16 as of 9:09 a.m. in Tokyo, heading for a 0.6 percent weekly gain. The Topix index swung between gains and losses after the yen rose 1.1 percent yesterday as Bank of Japan policy makers were said to view further monetary easing as counterproductive.
A Ukraine cease-fire pact was agreed Thursday, as the International Monetary Fund expanded its bailout to the nation. Greece and Germany are pursuing a deal on the conditions required to continue the Greek bailout as each side signals a willingness to compromise, according to government officials taking part in the talks. The Stoxx Europe 600 Index closed at its highest since December 2007, while the Nasdaq Composite Index climbed to a 15-year high.