Consumer shares drove the growth of Asian stocks as the region's equity benchmark extended its biggest gain in three weeks.
Japan's SoftBank Corp. gained as the approval of its proposed takeover of Sprint Nextel Corp. transpired. SoftBank added 0.9 percent, while the Topix index added 0.2 percent following its upward trend yesterday. The MSCI Acia Pacific Index also added 0.3 percent to 132.17.
Falling 8.7 percent, the MSCI gauge is seen to reflect the United States' economy's capability to lead the Federal Reserve to reduce record stimulus. The measure, which ended at 12.9 times estimated average earnings, traded lower than Standard & Poor's 500 Index (14.9) and Stoxx Europe 600 Index (13). Data are acquired by Bloomberg.
The Bank of Japan initiated a press conference and monetary policy statement which could "add stability to a currency and a market that have been in a free-fall," said Australian marketing strategist Evan Lucas.
Join the Conversation