Asian Stocks Head for Sharpest Two-Day Gain Since January 2017

Asia’s benchmark equities index headed for its sharpest back-to-back gain in 19 months as most stock markets in the region gained, led by a rally in technology companies.

The MSCI Asia Pacific Index rose 1.2 percent to 162.19 as of 4:28 a.m. in Hong Kong. A gauge of the region’s technology companies jumped 2.1 percent, the biggest boost to the benchmark. Turkey’s rate increase, which was wider than expected, boosted emerging-market stocks and a surprise slowdown in U.S. inflation in August sent regional markets higher. News that the U.S. and China could be heading for another round of trade talks continued to boost sentiment.

Source : Bloomberg

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Asian Stocks Set to Trim Sharpest Quarterly Rally Since 2012

Asian stocks fell as investors took profit amid the strongest quarter for the region’s equity markets in five years. The Topix erased gains for 2017 on the last trading day of Japan’s fiscal year.

The MSCI Asia Pacific Index lost 0.9 percent as of 4:30 p.m. in Hong Kong, as about two stocks declined for each that advanced. All 11 industry groups slid, led by healthcare and consumer staples companies. The gauge is still set to gain about 8.7 percent this quarter, after U.S. data Thursday showed gross domestic product grew faster in the fourth quarter than previously reported on higher consumer spending. Federal Reserve Bank of San Francisco President John Williams said he wouldn’t rule out more than three hikes for this year.

Source: Bloomberg

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