Asian Equities Near Seven Year Highs

Asia’s benchmark stock gauge climbed, trading at an almost seven-year high, as industrial and healthcare shares led the advance.

Central Japan Railway Co. gained 1.2 percent in Tokyo, boosting the industrial industry group. Celltrion Inc. jumped 8.6 percent in Seoul, extending yesterday’s gains after EBEST Investment & Securities Co. initiated coverage on the biopharma company with a buy rating. Orix Corp. slid 0.9 percent in Tokyo after its Chief Executive Officer said the financial services firm is in early talks to purchase a U.S. fund manager.

The MSCI Asia Pacific Index added 0.3 percent to 153.08 as of 9:30 a.m. in Tokyo, after closing Monday at its highest since May 2008. Hong Kong shares are the world’s biggest advancers this month, with benchmark gauges in Japan and mainland China also posting gains. The 14-day Relative Strength Index on the Asian regional index was at 76 Monday, trading above 70 for a fourth day. Some traders use a reading above 70 as a signal stocks are poised to drop.


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