Asia Stocks Rise to 5-Month High; Gold Hits Record; T-Notes Up

Asian stocks rose, driving the MSCI Asia Pacific Index to its highest level in almost five months, while the region’s currencies strengthened against the dollar. Treasuries rose and gold reached a record after the Federal Reserve signaled it will increase purchases of U.S. debt.

The MSCI Asia Pacific Index gained 0.5 percent to 125.54 as of 4 p.m. in Tokyo, set to close at the highest level since April 30. The Stoxx Europe 600 was little changed at 264.69. Standard & Poor’s 500 futures rose 0.4 percent. The dollar weakened to 84.87 yen from 85.09 yesterday and the ringgit rose to a 13-year high. Two-year Treasuries yielded 0.4155 percent, matching the record low set yesterday. German and Irish government bonds opened higher. Gold for immediate delivery advanced as much as 0.3 percent to a $1,291.05 an ounce.