What Investors Are Saying About Asia's Record Equity Rally
- Region’s stock benchmark surpasses closing high set in 2007
- MSCI Asia Pacific Index has surged 28 percent this year
Hong Kong's Hang Seng Hits Decade-High
Asian stocks headed for a record close for the second time this month as the regional benchmark gauge surpassed its 2007 peak, led by energy and industrial stocks after U.S. equities continued their bounce from a two-week slide.
The MSCI Asia Pacific Index rose 0.6 percent to 172.67 as of 4:37 p.m. in Hong Kong. The gauge passed its 2007 closing high on an intraday basis on Nov. 9 but didn’t hold the level. Japan’s Topix index climbed for a second day Wednesday, rising 0.3 percent, after its worst week in seven months. Hong Kong’s benchmark Hang Seng Index breached the 30,000 level for the first time in a decade, boosted by China banks and energy stocks. India’s S&P BSE Sensex added 0.4 percent, with foreign buying of the nation’s stocks so far this month on course to be the highest since March.