Asian stocks rose in Metatrader, driving the MSCI Asia Pacific Index to a fifth consecutive weekly advance, after U.S. reports on economic growth, unemployment and business activity beat estimates.
BHP Billiton Ltd., Australia’s largest oil producer, climbed 1.3 percent as crude-oil gained on optimism demand will increase. Shinhan Financial Group Co. jumped 4.4 percent in Seoul on speculation fourth-quarter earnings at South Korean banks will improve.
Mizuho Financial Group Inc. and Resona Holdings Inc. slumped at least 2.5 percent in Tokyo after Morgan Stanley MUFG Securities Co. cut their ratings.
The MSCI Asia Pacific Index gained 0.3 percent to 126.67 as of 11:51 a.m. in Tokyo. The index gained 8.4 percent last month, the largest monthly advance since July 2009. The 12 percent climb in the three months ended yesterday was the biggest quarterly increase of the past year.
Japan’s Nikkei 225 Stock Average rose 0.9 percent today. Australia’s S&P/ASX 200 Index increased 0.2 percent. South Korea’s Kospi Index climbed 0.4 percent. Markets are closed in Hong Kong and China for a public holiday.
Futures on the Standard & Poor’s 500 Index increased 0.3 percent. The gauge fell 0.3 percent yesterday, trimming its biggest September gain since 1939, as investors sold some of the month’s best-performing shares amid speculation improving economic data will reduce the need for the Federal Reserve to stimulate growth.