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.
Thailand’s baht rose to a two-week high as overseas investors boosted holdings of the nation’s shares after anti-government protesters removed blockades at four main intersections in central Bangkok this week.
Japanese authorities are preparing to gather information about how banks set foreign-exchange rates for commercial transactions amid a global probe into rate manipulation, two people with knowledge of the matter said.
A member of the investment committee for Japan’s government pension fund, the world’s biggest retirement savings pool, opposed the purchase of inflation- linked bonds, minutes of the group’s meeting last month show.
Thailand’s baht fell the most in almost a week after blasts at anti-government protest sites killed four over the weekend, adding to concern there is no end in sight for the unrest that is damaging growth.