Asian Stocks Rebound as Weaker Yen Boosts Topix Amid Brexit Bets
- Topix pares biggest weekly loss in four months as yen weakens
- Indonesian developers gain after surprise interest rate cut
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Asian stocks rose, paring the biggest weekly drop in more than a month, as the yen halted a five-day advance while speculation grew that the U.K. won’t vote to leave the European Union.
The MSCI Asia Pacific Index rebounded 0.7 percent to 126.44 as of 4:23 p.m. in Hong Kong. The gauge headed for a weekly loss of 2.9 percent amid concerns over central bank policies and anxiety over the possibility of a “Brexit.” The killing of a U.K. lawmaker Thursday prompted speculation that Britons could be more inclined to vote to stay in the EU in next week’s referendum.