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Home / International Markets / Asian stocks ascend on US data, China stocks rise, MXAP up 0.7%
Asian stocks ascend on US data, China stocks rise, MXAP up 0.7%

Asian stocks ascend on US data, China stocks rise, MXAP up 0.7%

EUROPE: Asian stocks increased on optimism in the US data revival and the yen neared 120 per dollar, a level it hasn’t violated since July 2007. Chinese stocks increase predicts a jump in trading will enhance profits at brokerages.
The MSCI Asia Pacific Index (MXAP) advanced 0.7 percent to 140.56 as of 4:08 p.m. in Hong Kong, the biggest advance in two weeks. Japan’s Topix rallied 0.8 percent as the yen fell to 119.91 per dollar after weakening 1.2 percent over the past two days.
“A positive U.S. economic backdrop was the major catalyst,” said Matthew Sherwood, head of investment markets research at Perpetual Ltd. in Sydney. “The U.S. will continue to drive global trends in 2015.”
A private report yesterday showed hiring in the U.S. topped 200,000 workers for the seventh time in eight months before government payrolls data due tomorrow, while the Federal Reserve’s Beige Book indicated “widespread” hiring. Service industries in the U.S. expanded last month at the second-fastest pace in more than nine months.