Economics
Asian Stocks Rise Before Yellen Speech as Japan’s Shares Advance
- Markets in Japan, Australia, China, Singapore all climb Friday
- Fed Chair Janet Yellen due to speak Friday in Massachusetts
Should Emerging Markets Be Scared of the Fed?
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Asian stocks rose, with the benchmark equities index heading toward its first weekly gain in five weeks, as investors awaited comments from the head of the Federal Reserve. Japanese shares climbed amid speculation the nation will delay a sales tax increase.
The MSCI Asia Pacific Index gained 0.7 percent to 128.24 as of 4 p.m. in Hong Kong, as all 10 industry groups advanced. The gauge is down 2.3 percent this month as investors’ anxiety over the U.S. central bank’s plan to raise interest rates as early as next month offset increasing signs of strength in the world’s biggest economy. Fed Chair Janet Yellen is due to speak after Asian markets close on Friday at an event in Massachusetts.