Asian Stocks Rebound From Tumultuous Week on Positive U.S. Lead
Asian stocks rose Monday, taking a break from the global rout that has gripped investors since late January, after U.S. stocks gained on Friday and S&P 500 Index futures surged in Asia trading hours. Japan is closed for a holiday today.
Equities are rebounding after falling as much as 10 percent from their record high on January 29. Investors pared positions amid rising U.S. bond yields, suggesting many remain wary of further increases in global interest rates and inflation.
The MSCI Asia Pacific excluding Japan Index advanced 0.6 percent to 557.62 as of 4:44 p.m. in Hong Kong after its biggest weekly fall since September 2011. Most equity benchmarks rose, with South Korea, China and India leading gains. Vietnamâ€™s main gauge buy smart essay surged the most in more than two years, while Australian stocks fell as an inquiry into the countryâ€™s financial industry commenced.
Source : Bloomberg