Asian Stocks Advance on China GDP, U.S. Rate-Increase Outlook
- Fed seen boosting U.S. rates in December, then taking it easy
- Philippine shares post steepest two-day gain since May
Are China's Risks Now Back in Focus?
Asian stocks rose for a second day after data out of China showed Asia’s largest economy remained stable in the third quarter and speculation grew the Federal Reserve will stick to a gradual tightening of monetary policy.
The MSCI Asia Pacific Index added 0.3 percent to 139.82 as of 4:10 p.m. in Hong Kong, trimming a gain of as much as 0.4 percent after the Chinese figures were broadly in line with expectations. Asian shares were already higher ahead of the much-anticipated Chinese numbers after a gauge of global equities jumped the most in almost four weeks on Tuesday amid mounting speculation that the Federal Reserve will boost interest rates in December then not rush further increases as the U.S. economy remains mixed.