Asian Stocks, Copper Gain on Global Growth Outlook; Japanese Bonds Decline |
| Bloomberg - Jan 31, 2011 |
Asian stocks rose for the first time in three days, copper gained and Japanese government bonds fell as the outlook for improved earnings and economic growth overcame concern the turmoil in Egypt will escalate.
The MSCI Asia Pacific Index added 0.3 percent to 137.04 as of 12:35 p.m. in Tokyo and the MSCI Emerging Markets Index rose 0.4 percent, snapping a three-day drop. Standard & Poor’s 500 Index futures climbed 0.3 percent after the gauge recovered from its biggest slump since August. Copper advanced as much as 0.6 percent in New York and rallied to a record in London. Yields on Japan’s 10-year debt rose from near a two-week low.
Shares are rebounding as Honda Motor Co. increased its earnings forecast and the Nikkei newspaper said Hitachi Ltd. may post record operating profit, following Exxon Mobil Corp.’s best quarterly profit in more than two years and U.S. consumer spending data that beat estimates. Gains were limited as Egyptian demonstrators urged a million people to take to the streets today to force President Hosni Mubarak from office.
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- Posted: 2011-01-31 21:59:39
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