Asian Stocks Rise, Led by Raw-Material Suppliers, Ahead of BOJ

Bloomberg (10/7) -- Asian stocks rose, led by raw-materials companies, as the Bank of Japan begins a two-day policy meeting and investors await Chinese trade data. The MSCI Asia Pacific Index rose 0.1 percent to 131.04 as of 9:02 a.m. in Tokyo, before markets open in Hong Kong and China. The MSCI Asia Pacific index fell 9 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. Japan’s Topix index added 2.1 percent yesterday to close at the highest level since May 22. The gauge last week capped its biggest increase across three weeks since April 2009, amid a weakening yen and optimism Prime Minister Shinzo Abe will push through economic reforms after winning upper house elections on July 21.

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 8:46 AM