Tech Leads Asia Stocks Gains as Traders Look Beyond Fed Comments
- Tech gauge is biggest sector riser on MSCI Asia-Pacific Index
- Traders price in near certainty Fed will lift rates next week
Investors Take Stock as They Wait for Fed's Next Move
This article is for subscribers only.
Asian stocks rose a second day as investors looked beyond a near-certain U.S. interest-rate increase this month, and energy companies advanced on the likelihood of further output cuts by OPEC amid global oversupply.
The MSCI Asia Pacific Index rose 0.3 percent as of 4:04 p.m. in Hong Kong. Tencent Holdings gained 1.2 percent to lead gains among technology stocks, the biggest advancing group among 11 industries. Idemitsu Kosan Co. and SapuraKencana Petroleum Bhd. led the energy sector index.