Asian Stocks Advance for 10th Day as Syria Tensions Ease
Asian
stocks rose, extending the longest rally in the benchmark index this year, as
the U.S. Senate backed away from an immediate vote authorizing a military
strike against Syria.
Rio
Tinto Group, (RIO) the world’s second-biggest mining company, gained 1.4
percent after copper futures climbed. Futures on the Hang Seng Index rose 0.8
percent, signaling Hong Kong shares will advance for a fifth day. Inpex Corp.,
Japan’s biggest energy explorer, sank 2.6 percent after crude oil fell as
prospects for a diplomatic solution over Syria eased concern shipments from the
Middle East will be disrupted.
The
MSCI Asia Pacific Index advanced 0.4 percent to 137.66 as of 9:31 a.m. in
Tokyo, rising for a 10th day and on course for its highest close since May 29.
The gauge advanced 6.2 percent in the nine days through yesterday as factory
output in China accelerate to a 17-month high. The U.S. Senate backed away from
an immediate vote to authorize military action against Syria, which signaled it
may agree to a Russian plan to put its chemical weapons under international
control.
(Source: Bloomberg)
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