Asian stocks rose, with the regional benchmark index heading for a two-week high, as Japanese exporters rallied after the nation’s shipments increased and the yen weakened ahead of the conclusion of a Federal Reserve policy meeting.
The dollar rose for a third day versus the yen amid speculation Federal Reserve Chairman Ben S. Bernanke will today provide more information about when U.S. policy makers will start to reduce bond purchases.
Philippine stocks are proving too cheap to pass up for two of the nation’s biggest money managers after falling the most since 2011, as companies post record profits and economic growth outpaces the world.
Japanese shares advanced, with the Topix index headed for its first four-day winning streak in a month, after the yen weakened before the Federal Reserve meeting outcome. Stocks also rose as data showed Japan’s exports increased more than expected.
Asian stocks rallied, pushing the benchmark equity index to a two-week high, as the yen drove declines among regional currencies on prospects the Federal Reserve will signal the fate of U.S. monetary stimulus today. Rubber rose and Malaysia’s ringgit slid to an 11-month low.
China’s “spectacularly active” naval posture and “massive” military buildup in Asia are part of a pattern of belligerent behavior toward Japan and other neighbors over maritime disputes, according to Japan’s ambassador to the U.S.
Stock futures in Japan, Hong Kong and Australia climbed as the yen weakened and as investors awaited the outcome of a Federal Reserve policy meeting for clues to the U.S. central bank’s plan for stimulus.