Asian stocks rose, with the regional benchmark index trading at a one-year high, as consumer and health-care shares advanced.
The MSCI Asia Pacific Index added 0.1 percent to 143.98 as of 9:05 a.m. in Tokyo. The measure rallied 11 percent through yesterday from this year��s low in February amid signs of a stabilizing economy in China and as authorities there eased bank collateral rules, while U.S. data signaled a recovery is intact.
Japan��s Topix index rose 0.2 percent, while South Korea��s Kospi index lost 0.1 percent. Australia��s S&P/ASX 200 Index added 0.1 percent and New Zealand��s NZX 50 Index slipped 0.1 percent. Markets in China and Hong Kong have yet to open.
The World Bank cut its global growth forecast amid a weaker outlook for the U.S., Russia and China. The Washington-based lender predicts the world economy will expand 2.8 percent this year, compared with a January projection of 3.2 percent. The U.S. prediction was reduced to 2.1 percent from 2.8 percent, while estimates for Brazil, Russia, India and China were also lowered. The 2015 forecast for world economic growth was unchanged at 3.4 percent.
Source : Bloomberg