Asian stocks continued to advance, leading the regional index to its longest-lasting rally since the start of the year. The yen traded at its lowest level in two months, while the South Korean won gained ground for the sixth consecutive day.
The MSCI Asia Pacific index was up 0,1% as of 10:06am in Tokyo, rising for the seventh day, the longest period since last December. Japan's Topix gained 0,4% as the yen weakened to 103.85 against the dollar after five days of continued weakness. China yesterday announced measures to support growth, including investment in infrastructure and tax benefits. This year, the Chinese government will sell bonds worth 150 billion yuan to finance the construction of a railway network in less developed regions.
In China, “conditions are still 'soft' and at this stage the only positive factor is the official declarations in favor of growth stimuli” comments Angus Gluskie, managing director of White Funds Management in Sydney. "The American and European economies, on the other hand, continue to improve compared to a few years ago and employment levels are moving upwards".
Australia's S&P/ASX 200 index rose 0,1 percent. The Kospi index was also on the uptrend, up 0,4%, marking the seventh consecutive day of gains.
http://www.bloomberg.com/news/2014-04-02/asian-futures-rise-after-u-s-jobs-data-copper-retreats.html
