Asian stocks climbed, with the Topix index set for its biggest weekly advance this month, amid easing tension in Ukraine. South Korea’s won rose, while credit risk in Japan fell and rubber dropped to the lowest since 2012.
Japanese shares rose in thin trading, with the Topix index headed for its biggest weekly gain this month, after the yen fell yesterday as tensions in Ukraine eased and amid optimism about U.S. earnings.
China’s anti-corruption agency is investigating the chairman of China Resources Holdings Co. after domestic media repeated accusations a unit of the state-owned company deliberately overpaid for coal assets.
The sinking of the Sewol ferry off South Korea raises new concerns about ship safety more than two years after the capsizing of the Costa Concordia ocean liner spurred a global campaign to improve passenger security.
Japanese stock-index futures rose as the Standard & Poor’s 500 Index capped its biggest weekly advance since July amid easing tensions over Ukraine and better- than-estimated earnings from companies from General Electric Co. to Morgan Stanley.
The dollar strengthened for a fifth day against a basket of major peers as an agreement to start de- escalating the conflict in Ukraine sent stocks higher and pushed Treasuries down the most in a month.