Asian Stocks Follow U.S. Equities Higher as Consumer Shares Gain
ByAsian stocks rose, following a rally in U.S. equities, as investors sifted through the latest data on the world’s biggest economy before the Federal Reserve’s decision on interest rates.
The MSCI Asia Pacific Index climbed 1 percent to 127.90 as of 9:08 a.m. in Hong Kong, with consumer and industrial shares leading gains. The Standard & Poor’s 500 Index advanced 1.3 percent on Tuesday as a report showed U.S. retail sales climbed for a second straight month, a sign shoppers may be looking past recent volatility in financial markets. The Fed is about to decide whether the economy can withstand higher borrowing costs, with odds on a rate hike on Thursday climbing to 32 percent from 28 percent a week ago. That’s still down from more than 50 percent before China roiled global markets by devaluing the yuan…
Asian Stocks Follow U.S. Equities Higher as Consumer Shares Gain
