Most Asian stocks rose, with the regional benchmark’s poised for its biggest monthly advance since September 2013, as health-care and consumer shares climbed.
About three shares rose for every two that fell on the MSCI Asia Pacific Index, while added less than 0.1 percent to 146.35 as of 9:07 a.m. in Tokyo. The gauge is on track for a 4.3 percent gain this month and a 0.9 percent weekly advance after Greece and its creditors this week brokered a deal to extend bailout funding for four months and Federal Reserve Chair Janet Yellen damped concerns of an imminent rate increase.
“The market has been performing largely with the help of the Fed the last couple of years,” Scott Wren, a senior equity strategist who helps oversee $1.4 trillion at Wells Fargo Advisors LLC, said on Bloomberg Television. “Valuations aren’t stretched at this point. We have more upside.”