(MENAFN– ecpulse)
Asian stocks inclined for the first time this year as Japanese shares also rose amid the recent weakness in Japanese yen and before the release of the Federal Reserve minutes which expected to taper stimulus packs.
Moreover, The MSCI Asia Pacific Index rose 0.6% in Tokyo, after falling to a 2 1/2-week low yesterday. Japan’s Topix (TPX) climbed 0.9% and Chinese shares advanced. Standard & Poor’s 500 Index futures were little changed. The yen depreciated against all but one of its 16 major peers, and South Korea’s won rose from an eight-week low. Gold and silver fell at least 0.2%, while natural gas added 0.5%.
On the other side, markets are weighing on Fed’s meeting minutes, where the bank policy makers said last month they will taper monthly bond buying to $75 billion from $85 billion, adding that purchases may decline to $10 billion.
Furthermore, Japanese yen weakness boosted demand on Japanese shares which slightly supported today’s gain in Asian stocks, adding that the IMF will boost global expansion forecasts which boosts optimistic in markets.
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