Asian stocks climbed, fueling a second weekly jump for the regional benchmark after American equities jumped with commodity prices and a Ukraine cease-fire deal was forged. Emerging-market currencies rose as the yen held gains.
The MSCI Asia Pacific Index advanced 0.6 percent by 9:31 a.m. in Tokyo, as mining and energy shares drove Australia™s S&P/ASX 200 Index toward its highest close since May 2008. Standard & Poor™s 500 Index futures fell 0.1 percent after the gauge came within three points of a record. Japan™s Topix index extended gains from a seven-year high, even as the yen maintained Thursday™s 1.1 percent surge. The Korean won and Malaysian ringgit added at least 0.3 percent. Gold climbed.
Global equities are rising a second week as the accord aimed at halting Ukraine™s 10-month conflict and optimism of a compromise on Greece soothes geopolitical concerns. Most industrial metals soared Thursday and oil rallied more than 4 percent. Australia™s central bank chief told lawmakers rate cuts may have lost some of the efficacy, after the country joined the global wave of monetary easing last week. The Bank of Japan is said to regard increasing stimulus as counterproductive.
The Bloomberg Commodity Index gained 1.4 percent on Thursday, its steepest one-day increase since Feb. 3.
Source : Bloomberg