Asian stocks rose, with the regional index heading for a fourth weekly increase, as bond risk in the area fell to the lowest in 11 weeks before U.S. jobs data today. Corn jumped to a six-month high and Indonesia’s rupiah gained while European equity-index futures were little changed.
Asian stocks advanced, with the regional benchmark gauge ending at a six-week high, as telecommunications companies led gains. Japanese shares rose after the yen weakened and an advisory committee said the world’s largest pension fund doesn’t need a domestic-bond focus.
Asian stocks rose a second day after comments from Russian President Vladimir Putin signaled the Ukraine crisis won’t immediately escalate. China shares slid amid concern the country is facing its first onshore corporate bond default.
Chinese stocks listed in Hong Kong fell to a three-week low as the national legislature began its annual meeting and concern mounted that the country may be facing its first onshore corporate bond default.
China Medical System Holdings Ltd. fell the most since listing in Hong Kong after the preliminary results of a clinical trial on a liver cancer treatment showed no statistical difference from a placebo in some patient groups.