Asian stock markets rose again on the wave of optimism created by the new anti-deflation measures of the Japanese Central Bank. The regional benchmark is experiencing its longest period of growth in seven weeks, at a time when investors are convinced that the new measures will bring economic growth and an increase in profits.
BHP Billiton, the world's largest mining group, gained 2,5% in fourth consecutive day of growth in over two months. Mitsubishi UFJ Financial, Japan's largest bank, is close to its highest level since 2009 on speculation that central bank stimulus will benefit firms active in financial services. Bucking the trend, Billabong International plunged 26% after the surfwear company said it would have to discuss the A$287m takeover deal.
The Asia Pacific index rose 0,9% to 135.89 as of 12:29 in Tokyo with two stocks up for each one down. The measure is starting to realize the greatest period of growth since 20 February.
“The global economic recovery is finally unfolding and most of the systemic risks are now behind us,” said Daphne Roth, head of Asia equity research at ABN Amro Private Bank. “Central banks have done their part and that is reflected in the stock market.”
Japan's Nikkei 225 Stock Average gained 0,7% to its highest level since August 2008. Australia's S&P/ASX200 fell 0,2%, while Hong Kong's Hang Seng rallied 0,3. .XNUMX percent.
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