Asian Stocks Snap Four-Day Loss as IMF to Raise Forecast

Asian stocks rose, with the regional benchmark gauge on course for the first gain in five days, as the International Monetary Fund said it will raise its global economic growth forecast and the U.S. trade deficit narrowed.

Seven & I Holdings Co. jumped 4.5 percent in Tokyo after the supermarket chain’s operating profit beat analyst estimates. China Oilfield Services Ltd., a unit of the nation’s biggest offshore energy company, gained 1.3 percent in Hong Kong after saying it plans to raise HK$5.88 billion ($758 million) through a private sale of new shares. Nintendo Co., the maker of Wii U game consoles, jumped 7 percent in Tokyo after China lifted a 13-year ban on gaming machines.

The MSCI Asia Pacific Index advanced 0.6 percent to 139.28 as of 10:47 a.m. in Tokyo after closing yesterday at the lowest level since Dec. 19. More than three stocks rose for each that fell on the measure.

Japan’s Topix (TPX) index gained 1 percent. South Korea’s Kospi index and Australia’s S&P/ASX 200 Index were little changed, while New Zealand’s NZX 50 Index gained 0.4 percent.

Hong Kong’s Hang Seng Index (HSI) increased 0.6 percent and the Hang Seng China Enterprises Index of mainland shares traded in the city, also known as the H-share index, added 0.2 percent. China’s Shanghai Composite Index rose 0.3 percent.

(Source: Bloomberg)

Asian Stocks Swing on Slower U.S. Services Growth, Yen

Asian stocks swung between gains and losses as a report showed U.S. service industries expanded less than expected and the yen fell.

Mazda Motor Corp., an automaker that gets 30 percent of its sales in North America, gained 0.8 percent, reversing losses of 1.5 percent, as the yen weakened. Samsung Electronics Co. slipped 0.2 percent as South Korea’s biggest exporter of consumer electronics posted fourth-quarter earnings that missed analysts’ estimates. SoftBank Corp. added 0.5 percent after the price target of the Japanese mobile phone operator was raised at Bank of America Corp.’s Merrill Lynch unit.

The MSCI Asia Pacific Index lost 0.1 percent to 139.12 as of 9:58 a.m. in Tokyo after rising as much as 0.2 percent. Japan’s Topix index slipped 0.2 percent after the yen fell 0.2 percent versus the dollar. Janet Yellen won U.S. Senate confirmation to become the 15th chairman of the Federal Reserve and the first woman to head the central bank in its 100-year history.

The U.S. Labor Department will release the unemployment rate and new hiring figures for last month on Jan. 10. The Federal Open Market Committee said last month it plans to taper monthly bond purchases to $75 billion from $85 billion starting January, saying in a statement that “labor-market conditions have shown further improvement.” The committee is scheduled to meet Jan. 28-29.

(Source: Bloomberg)

Asian Stocks Fall Third Day, Led by Telecom Shares, Japan

Asian stocks fell, with the regional benchmark index headed for a third day of losses, as telecommunication services shares led the decline and Japanese stocks dropped following holidays.

SoftBank Corp., a Japanese mobile phone operator, dropped 2.2 percent after the rating of Sprint Corp. (S), which SoftBank acquired last year, was cut at Cowen and Company. Fast Retailing Co., Asia’s biggest apparel chain, lost 3.8 percent in Tokyo as the Nikkei 225 (NKY) Stock Average slipped from a six-year high. Samsung Electronics Co., South Korea’s biggest exporter of consumer electronics and the second-most-weighted stock on the Asia-Pacific benchmark index, rose 0.8 percent.

The MSCI Asia Pacific Index slipped 0.6 percent to 139.45 as of 10:23 a.m. in Tokyo with nine of its 10 industry groups falling. Markets are yet to open in Hong Kong and China.

The Asia-Pacific gauge added 9.3 percent in 2013, rising for a second straight year, as central banks across the globe acted to spur growth. The measure traded at 13.1 times estimated earnings as of Jan. 3, compared with 15.5 for the Standard & Poor’s 500 Index and 13.7 for the Stoxx Europe 600 Index, according to data compiled by Bloomberg.

(Source: Bloomberg)