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.
China’s broadest measure of new credit fell 19 percent from a year earlier and money supply grew at the slowest pace on record, underscoring risks of a deeper slowdown as the government tries to curb financial dangers.
China’s benchmark stock index extended the biggest five-day rally in eight weeks as Chongqing Changan Automobile Co. led gains for consumer-discretionary shares and China Petroleum and Chemical Corp. rose. Banks fell.
Asian shares fell this week, with the regional benchmark halting a two-week gain and Japan’s Topix index capping its worst week since June, as technology shares sank amid a global rout and the yen strengthened.
Loan growth at Ghana’s UT Bank Ltd. will be slower this year after the central bank increased the cash-reserve ratio and as treasury bill rates rose, according to Deputy Managing Director Pearl Esua-Mensah.
China’s central bank chief said the nation needs only minor policy adjustments when growth is within a normal range, adding to signals that the government will avoid taking broader action to counter a slowdown.