Asian Stocks Rise as Mixed U.S. Data Damp Rate Hike Outlook
- Japan’s Topix index reverses losses amid yen weakness
- N.Z.’s benchmark index tumbles 1.3 percent to three-month low
What a Possible Dec. Fed Rate Hike Means for Markets
Asian stocks headed for the biggest advance in almost a month, led by commodity shares, as mixed U.S. economic data spurred optimism that the U.S. will keep monetary policy accommodative.
The MSCI Asia Pacific Index rose 0.9 percent to 139.37 as of 4:10 p.m. in Hong Kong. Philippine equities paced gains, while Hong Kong shares rose the most in six weeks. Japan’s Topix index finished 0.3 percent higher, erasing an earlier loss, as the yen hovered around 104 versus the dollar. Investors are dissecting economic data and rhetoric from policy makers to weigh the outlook for when the Federal Reserve will raise borrowing costs and as they brace for the third U.S. presidential debate on Wednesday.