Asia Stocks Rise as U.S. Home Sales Surge, Rate-Hike Bets Climb
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Japanese shares advance as yen weakens against dollar
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Benchmark gauges in Europe, U.S. advance in Tuesday trading
Asian stocks rose, with the regional equities benchmark gauge rebounding from a seven-week low, after a surge in U.S. home sales fueled speculation the world’s biggest economy can withstand higher interest rates.
The MSCI Asia Pacific Index climbed 0.8 percent to 125.95 as of 9:03 a.m. in Tokyo after closing on Tuesday at the lowest level since April 6. Japan’s Topix index added 1.6 percent as the yen traded at 110.15 per dollar after falling 0.7 percent Tuesday. A report showed U.S. new-home sales in April surged to the highest level in more than eight years. Odds for a Federal Reserve rate increase in June rose to 34 percent from 4 percent last Monday, with traders now expecting a better-than-even chance of an increase by July…
Asia Stocks Rise as U.S. Home Sales Surge, Rate-Hike Bets Climb
