Asian stocks rose this week, with the regional gauge capping its longest streak of weekly gains since September, as U.S. data signaled resilience in the world’s biggest economy and concern about the Ukraine crisis eased.
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.
The world’s largest pension fund should look to beat wage growth when setting investment goals and no longer needs to focus on domestic bonds given quickening inflation, a Japanese government advisory panel said.
The world’s biggest retirement fund should put half its $1.2 trillion of assets in stocks and increase its yearly return goal to 5 percent, said the head of a panel that advised lawmakers on overhauling public pensions.
Japanese shares rose, after the Topix index capped a fifth week of declines, as the yen weakened following U.S. jobs data and ahead of Federal Reserve Chairman Janet Yellen’s first policy report to lawmakers.
Japan’s yield curve is likely to steepen as incoming Prime Minister Naoto Kan will seek to rein in borrowings and pressure the central bank to extend monetary easing to lift the economy out of deflation, according to Toyota Asset Management Co.