Japanese stocks advanced to a two- month high after an unexpected gain in U.S. manufacturing boosted the earnings outlook for exporters and amid growing optimism Europe will agree to a further rescue plan for Greece.
Asian stocks advanced, with the regional benchmark index set for its longest winning streak in six months, as exporters climbed after U.S. manufacturing unexpectedly grew and Europe prevented a default by Greece.
Japanese stocks rose, driving the Nikkei 225 Stock Average to the highest close since June, as the yen at a two-month low against the dollar improved the outlook for export earnings and analysts boosted investment ratings.
Asian stocks rose for a third week as exporters and energy producers gained amid easing concern over Europe’s debt crisis and the U.S. economic slowdown and after China raised interest rates, boosting the outlook for the country’s insurers.
Japanese and Australian stock futures rose after a report showed U.S. manufacturing unexpectedly accelerated in June, a sign the industry is rebounding after a shortage of parts and components from Japan slowed production.