Asian Stocks Climb on U.S. Economy as Yen Drops to 11-Month Low

14/03/2012 06:12 AST  Bloomberg

Asian stocks advanced for a second day, while regional bond risk declined and the yen tumbled to an 11-month low after the Federal Reserve bolstered confidence in the U.S. financial system and raised its economic assessment.

The MSCI Asia Pacific Index (MXAP) climbed 1.1 percent as of 11:20 a.m. in Tokyo. Standard & Poor’s 500 Index futures slipped 0.1 percent after the equity gauge jumped 1.8 percent yesterday. The dollar strengthened against 15 of its 16 major peers and the yen fell 0.3 percent. Bonds yields in Japan and South Korea gained. Gold advanced 0.1 percent.

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