Asian stocks rose in CFD´s Platforms, lifting the MSCI Asia-Pacific Index to a two-week high, as faster-than-estimated growth in U.S. manufacturing supported confidence in global economic growth.
Honda Motor Corp., which gets 46 percent of its sales from North America, rose 1.6 percent in Tokyo. Ping an Insurance (Group) Co. jumped 5.8 percent in Hong Kong on plans to merge its bank unit with Shenzhen Development Bank Co. GS Yuasa Corp., a Japanese car battery maker, gained 4.7 percent after Credit Suisse Group AG upgraded the stock. Jiangxi Copper Co. gained 2.6 percent in Hong Kong as commodity prices advanced.
The MSCI Asia Pacific Index gained 0.6 percent to 118.77 as of 1:05 p.m. in Tokyo, set for its highest close since Aug. 19. The gauge advanced 1.3 percent yesterday after reports showed China’s manufacturing and Australia’s gross domestic product grew faster than economists estimated.
Copper in London traded near a four- month high, extending yesterday’s advance, after better-than- expected economic data in U.S. and China, the two biggest consumers, boosted the demand outlook. Copper in Shanghai gained.
The metal for three-month delivery increased as much as 0.5 percent to $7,643 a metric ton on the London Metal Exchange, and traded at $7,616.50 at 10:12 a.m. in Shanghai. Copper for December delivery on Shanghai Futures Exchange gained 0.6 percent to 59,930 yuan ($8,814) a ton.