Asia Stocks Rise for 3rd Day Before Yellen Testimony, U.K. Vote
- Japan’s Topix advances as yen breaks seven-day string of gains
- Fed’s Yellen testifies in semiannual report Tuesday, Wednesday
This article is for subscribers only.
Asian stocks rose, poised for the biggest three-day rally in two months, as the yen retreated before testimony by Federal Reserve Chair Janet Yellen and investors watched polls for the looming British referendum.
The MSCI Asia Pacific Index advanced 0.8 percent to 129.83 as of 4:06 p.m. in Hong Kong, after jumping 1.9 percent on Monday amid bets the U.K. will opt to stay in the European Union in Thursday’s vote. Britain’s plebiscite remains too close to call, with a YouGov poll for the Times newspaper published late on Monday showing “Leave” at 44 percent and 42 percent for “Remain,” while a survey by ORB for the Daily Telegraph had “Remain” at 53 percent and “Leave” at 46 percent. Philippine and Japanese shares led gains in the region.