Singapore Exchange Ltd.’s profit probably fell last quarter as a penny-stock rout that curbed equity trading volume on Southeast Asia’s biggest bourse overshadowed an increase in derivative transactions.
Malaysia’s biggest pension fund sold about 331 million ringgit ($110 million) of shares in the country’s benchmark index as Prime Minister Najib Razak’s election victory sparked the largest rally since 2008.
China’s shares are still undervalued after this year’s rally and may extend gains as easing inflation allows the government to adopt more fiscal policies to boost economic growth, said ABN Amro Bank NV’s private bank unit.
Asian stocks rose this week after Chinese shares rallied amid signs the world’s second-largest economy is stabilizing, and as companies from Lenovo Group Ltd. to Tata Steel Ltd. posted profit that exceeded estimates.
Asian stocks outside Japan rose as Chinese property developers and resources companies climbed. Japanese shares fell after economic growth in the world’s third- largest economy slowed more than forecast.