Asian stocks rose for a seventh day, following U.S. shares higher, with Chinese markets set to open after a week-long holiday that saw a global equity rally.
The MSCI Asia Pacific Index gained 0.2 percent to 131.95 as of 9:00 a.m. in Tokyo, heading for an almost seven-week high. Chinese markets, which were at the epicenter of August’s global turmoil, will trade for the first time since Sept. 30. The Hang Seng China Enterprises Index, a gauge of mainland shares traded in Hong Kong, has jumped 11 percent since then, with stocks around the world posting their longest rally since April. Investors are betting the Federal Reserve will keep interest rates near zero for longer, spurring demand for assets that benefit from an environment where borrowing is cheap.
Odds of a Fed liftoff in 2015 have fallen below 50 percent after a weaker-than-expected U.S. jobs report last week reduced the case for the Fed to raise interest rates this year.
Japan’s Topix index lost 0.1 percent. South Korea’s Kospi index added 0.5 percent. Australia’s S&P/ASX 200 Index rose 0.9 percent. New Zealand’s S&P/NZX 50 Index was little changed. Markets in China and Hong Kong have yet to open.
Source : Bloomberg