Asian stocks rose after posting their steepest weekly advance since December 2011, with technology and industrial shares leading gains.
The MSCI Asia Pacific Excluding Japan Index climbed 0.2 percent to 425.16 as of 9:32 a.m. in Hong Kong, with Tokyo markets closed for a holiday. The measure jumped 6.5 percent last week. The comeback in global equities after their worst quarter in four years is being underpinned by sentiment surrounding central banks, which are showing little desire to pull back on stimulus.
South Korea’s Kospi index added 0.1 percent. New Zealand’s S&P/NZX 50 Index climbed 0.7 percent. Hong Kong’s Hang Seng Index rallied 0.5 percent, while China’s Shanghai Composite Index increased 0.3 percent. Australia’s S&P/ASX 200 Index slipped 0.7 percent, with energy shares leading losses after surging last week.
Odds of a Fed liftoff this year have fallen to below 50 percent, with traders predicting a 62 percent chance of an increase by March.