Asian Stocks Post First Advance This Week on Stimulus Outlook
- Reserve Bank of New Zealand unexpectedly cuts interest rates
- Investors await European Central Bank decision on Thursday
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Asian stocks climbed for the first day this week amid speculation central banks will provide additional stimulus to bolster global economic growth.
The MSCI Asia Pacific Index gained 0.5 percent to 125.57 as of 8:01 p.m. in Hong Kong, halting three days of losses. U.S. shares rebounded with crude oil on Wednesday ahead of Thursday’s European Central Bank meeting that may provide more insight on the potential for further steps to loosen policy and the trajectory of interest rates. The Reserve Bank of New Zealand unexpectedly cut interest rates to a fresh record low and signaled further easing may be needed, saying it’s concerned by a slump in inflation expectations.