Asian Stocks Rise Third Day on U.S. Economic Growth OptimismAsian stocks rose for a third day after an increase in U.S. home purchases boosted confidence in the world��s largest economy.

The MSCI Asia Pacific Index added 0.2 percent to 141.26 as of 9:02 a.m. in Tokyo, before markets open in Hong Kong and China. Purchases of new American homes climbed in April for the first time in three months as buyers took advantage of falling mortgage rates, driving U.S. stocks to a record high last week. Equity markets in the U.S. and U.K. are closed today for holidays.

Japan Topix index climbed 0.9 percent as the yen held three days of losses, trading at 101.96 per dollar. South Korea Kospi index lost 0.1 percent, Australia S&P/ASX 200 Index increased 0.1 percent and New Zealand��s NZX 50 Index slipped 0.1 percent.

Futures on Hong Kong Hang Seng Index gained 0.2 percent, as did contracts on the Hang Seng China Enterprises Index of mainland shares listed in the city. The Bloomberg China-US Equity Index of large Chinese firms trading in New York rose 0.2 percent May 23.

Copy Source: Bloomberg