Markets
Asian stocks poised for record close on rally
Bloomberg | 10 Nov 2017 00:30

A MEASURE of Asian stocks, already outperforming US and European peers this year, was set for a record close as investors bet the global bull run still has legs.

The MSCI Asia Pacific Index rose 0.7% to 173.07 as of 11.21am in Hong Kong on Nov 9, soaring past its November 2007 closing peak of 172.32.

Japanese and Hong Kong stock indexes led the region higher as the Nikkei 225 Stock Average rose above 23,000 for the first time in 25 years amid strong corporate earnings. Chinese shares listed in Hong Kong were also poised for their highest close since July 2015 with insurers leading gains. Materials led all 11 industry sub-groups on the Asian gauge higher.