Asian Stocks Outside Japan Approach One-Year High on Fed Minutes
- Hang Seng jumps as Tencent, Ping An earnings beat estimates
- Topix slips to two-week low as the yen advances for fifth day
FOMC Minutes: Figuring Out Who Said What
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Asian stocks outside Japan neared a one-year high after minutes of the Federal Reserve’s last meeting showed officials aren’t in any hurry to raise interest rates. Shares in Tokyo slipped as the yen strengthened.
The MSCI Asia Pacific Excluding Japan Index rose 0.6 percent to 451.45 as of 4 p.m. in Hong Kong, just shy of the highest closing level since July 2015. Hong Kong’s Hang Seng Index climbed 1 percent after Tencent Holdings Ltd. and Ping An Insurance (Group) Co. posted earnings that beat estimates. Japan’s Topix index fell 1.6 percent as the yen rose to as strong as 99.65 a dollar.