Asian Stocks Outside Japan Rise as Energy Producers Rally on Oil
- Shares sink in Tokyo as yen trades near a two-week high
- Oil gains as dollar slump makes commodity attractive
This article is for subscribers only.
Asian stocks rose, with the regional benchmark index heading for its first advance in three days, as energy and raw-material producers gained after oil surged. Shares in Tokyo fell after the yen strengthened, with the Topix index erasing its rally from the Bank of Japan’s latest stimulus.
The MSCI Asia Pacific Index climbed 0.6 percent to 120.58 as of 4:01 p.m. in Hong Kong, after falling as much as 0.1 percent. The Standard & Poor’s 500 Index rose on Wednesday as commodity producers rallied with oil. The yen traded at 117.69 per dollar after strengthening 1.7 percent on Wednesday, the most since August, as weak U.S. services data fueled anxiety America’s economy isn’t immune to weakness elsewhere.