Asian stocks climbed, extending a weekly gain, after U.S. equities rallied with oil and as investors awaited a Bank of Japan decision on monetary policy.
The MSCI Asia Pacific Index increased 0.2 percent to 119.80 as of 9:01 a.m. in Tokyo. While the regional gauge is heading for its first weekly advance in four weeks, it’s still poised for a 9.2 percent slump this month on concern about a slowdown in China and a rout in oil and other commodities. Speculation that central banks around the world will intervene to steady financial markets helped shore up investor confidence over the past week. The Fed left key U.S. interest rates unchanged and said officials were “closely monitoring” developments from China to Europe for any adverse impact on the economy.