Asian Stocks Advance as Oil Producers, China’s H-Shares Rally
- Hang Seng China caps longest winning streak since March 2007
- Vietnamese equities climb 20 percent from January low
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Asian stocks rose for a fourth day as energy producers climbed with oil and Chinese shares in Hong Kong capped their longest winning streak in nine years after data showed the nation’s imports beat estimates in May.
The MSCI Asia Pacific Index rose 0.5 percent to 131.13 as of 4:22 p.m. in Hong Kong, heading for the highest close in six weeks. China’s exports stabilized in May, with a weakening currency giving some support to growth in the world’s biggest trading nation. The World Bank cut its outlook for global expansion as business spending sags in advanced economies including the U.S. The downgrade comes as world equities hover near the highest level of 2016, while the Federal Reserve considers another increase in interest rates.