Asian stocks rose this week, with the regional benchmark index capping its 12th week of advance in 13 weeks, as positive economic reports from the U.S. boosted the outlook for the region’s exporters.
Toyota Motor Corp. (7203), Japan’s No. 1 carmaker, climbed 4.7 percent as the yen weakened against the U.S. dollar. Li & Fung Ltd., a supplier of clothes and toys to Wal-Mart Stores Inc., advanced 7.6 percent as U.S. retail sales, consumer confidence and employment reports exceeded economists’ estimates. China Railway Construction Corp. dropped 8.9 percent after a section of a high-speed track it built collapsed in central China’s Hubei province following heavy rains.
Profit-booking pulls down Muscat shares
After the strong recovery in the past few sessions, the MSM 30 Index pulled back 0.56 per cent to close at 5,871.60 points. The MSM Sharia Index closed at 921.13 points, down by 0.18 per cent.