Asian stocks rose as a weaker yen buoyed Japanese equities and consumer shares advanced.
The MSCI Asia Pacific Index added 0.2 percent to 144.51 as of 9:01 a.m. in Tokyo. Consumer companies led gains, while energy shares were the worst performers for a second day. Crude oil fell below $50 a barrel on Tuesday, as gold traded near a five-year low.
Japan’s Topix index rose 0.5 percent as it resumed trading following a holiday on Monday. The yen traded at 124.35 per dollar, weakening a second day. South Korea’s Kospi index added 0.5 percent. Australia’s S&P/ASX 200 Index increased 0.1 percent. New Zealand’s NZX 50 Index climbed 0.2 percent. Markets in China and Hong Kong have yet to open.
The Shanghai Composite Index climbed for a third day on Monday, rising 0.9 percent after the gauge briefly surpassed the 4,000-point level. A fifth of the market remained frozen.
Source : Bloomberg