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Bloomberg (09/7)
-- Asian stocks rose, with the regional equities gauge on course to
rebound from its biggest drop in two weeks, as Japanese exporters
rallied after the yen weakened and industrial companies advanced.
Toyota Motor Corp., which gets 75 percent of its auto sales outside Japan, gained 1.4 percent. BHP Billiton Ltd., the world’s largest mining company, advanced 1.9 percent in Sydney as metals prices climbed. Olympus Corp. sank 6.4 percent after the biggest endoscope maker said it plans to sell as much as 118 billion yen ($1.2 billion) of shares.
The MSCI Asia Pacific Index gained 1.2 percent to 130.79 as of 11:16 in Hong Kong, with all 10 industry groups on the gauge climbing. The measure fell 10 percent through yesterday from a five-year high on May 20 amid concern the U.S. Federal Reserve will begin tapering stimulus as China’s economy slows and Japan puts off unveiling economic reform policies until after upper house elections later this month.
The MSCI Asia Pacific Index yesterday fell 1.5 percent, the most since June 24. That left the gauge trading at 12.7 times average estimated earnings compared with 14.9 for the S&P 500 and 13 times for the Stoxx Europe 600 Index, according to data compiled by Bloomberg.
Toyota Motor Corp., which gets 75 percent of its auto sales outside Japan, gained 1.4 percent. BHP Billiton Ltd., the world’s largest mining company, advanced 1.9 percent in Sydney as metals prices climbed. Olympus Corp. sank 6.4 percent after the biggest endoscope maker said it plans to sell as much as 118 billion yen ($1.2 billion) of shares.
The MSCI Asia Pacific Index gained 1.2 percent to 130.79 as of 11:16 in Hong Kong, with all 10 industry groups on the gauge climbing. The measure fell 10 percent through yesterday from a five-year high on May 20 amid concern the U.S. Federal Reserve will begin tapering stimulus as China’s economy slows and Japan puts off unveiling economic reform policies until after upper house elections later this month.
The MSCI Asia Pacific Index yesterday fell 1.5 percent, the most since June 24. That left the gauge trading at 12.7 times average estimated earnings compared with 14.9 for the S&P 500 and 13 times for the Stoxx Europe 600 Index, according to data compiled by Bloomberg.
Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 11:10 AM
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