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Source: media reports

Asian stocks rise from two-week low

Asian stocks rise from two-week low
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First Published: Tue, Sep 29 2009. 10 17 PM IST
Updated: Tue, Sep 29 2009. 10 17 PM IST
Singapore: Asian stocks rose on Tuesday, lifting the MSCI Asia Pacific Index from a two-week low, as the dollar advanced against the yen and Taiwan said it may allow Chinese investors to buy stakes in its flat panel and computer chip industries.
The MSCI Asia Pacific Index rose 1.1% to 117.2 after closing on Monday at its lowest since 15 September.
The measure had fallen 2.4% in the past three days, the longest series of declines since the six days ended 8 July. The gauge has risen 66% from a five-year low on 9 March as stimulus measures around the world pulled economies out of recession.
Japan’s Nikkei 225 Stock Average climbed 0.9% to 10,100.2 as the statistics bureau reported that the country’s consumer prices fell at a record pace in August.
Hong Kong’s Hang Seng Index added 2.1%.
Australia’s S&P/ASX 200 Index advanced 1.6% after the government reported a smaller-than-forecast budget deficit.
The yen declined to 90.2 per dollar from 89.6 on Monday, when it touched 88.24, the strongest level since 23 January.
Masaki Kondo in Tokyo and Patrick Rial in Hong Kong contributed to thisstory.
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First Published: Tue, Sep 29 2009. 10 17 PM IST