(Bloomberg) -- Asian shares outside Japan extended gains for a fourth day as U.S. Federal Reserve meeting minutes reduced the odds of another interest-rate increase.
The MSCI Asia Pacific Index added 0.5 percent to 159.85 as of 4:28 p.m. in Hong Kong, set for its best week in about a month. Tencent Holdings Ltd. surged to a record, boosting a gauge of technology stocks to its biggest advance in five weeks. Japan's Topix closed lower for its eighth day of declines in 10 days, as the yen strengthened against the dollar and the nation reported a second-straight trade surplus. Indonesia is closed for a holiday.
“Confidence is generally returning as investors see a stronger showing of earnings from companies,” said Ang Kok Heng, chief investment officer at Phillip Capital in Kuala Lumpur. “Sentiment for Asian stocks has also been boosted by the uncertainty of the timing for the next rate hike.”
Summary
- Hang Seng Index -0.2%, Hang Seng China Enterprises Index -0.2%
- Hong Kong Stocks Fluctuate as Tencent Jumps, Developers Decline
- Tencent Proves Again Why It's the Indispensable Asian Investment
- Shanghai Composite Index +0.7%, Taiwan's Taiex Index +0.8%
- China Kickstarts Privatization Push With Unicom Share Sale
- Cathay Spurns Budget Route to Health as CEO Bets on Service
- Kospi +0.6%, Kospi 200 Index +0.6%
- South Korea's President Says North Korea Approaching ‘Red Line'
- Japan's Topix -0.1%, Nikkei 225 -0.1%
- Tokyo Stocks Slip as Yen Strengthens After Dovish Fed Minutes
- Bulls Are Adamant Japan's Unloved Stocks Are Primed for Gains
- Old-School Stocks Lifted Returns at This Japanese Hedge Fund
- Australia's S&P/ASX 200 Index -0.1%, New Zealand's NZX 50 +0.2%
- Singapore's Straits Times Index -0.3%, FTSE Bursa Malaysia KLCI Index -0.1%, Philippine Stock Exchange PSEi Index +0.3%, Thailand's SET Index -0.1%, Vietnam's VN Index -0.8%
- Fund Management Is Boring for Investor Who's Up 51% This Year
- Economic Growth in the Philippines Exceeds 6% for Eighth Quarter
- India's Sensex Index +0.4%
- India Sensex Rises as Metal Companies, Software Exporters Gain
- Profit Worries Show Peril Embedded in Indian Equity Surge: Chart
- Pakistan's Karachi Stock Exchange KSE100 Index -2.1%
- Pakistan's Accountability Body Summons Ousted PM for Probe: Dawn
To contact the reporter on this story: Choong En Han in Kuala Lumpur at echoong6@bloomberg.net.
To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net, Margo Towie
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