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Following the European Central Bank meeting on Thursday to put up strategic measures to erode inflation in the euro zone, Asian stocks march ahead to its fourth consecutive week rise.
The Nikkei 225 index in Japan is up again with 0.1% to end at 15,0793.37, its best closing figure since March 11 making it inch closer to its 3-month high. Japan's Topix index also rose with a 0.1% gain, well into the region's gauge of rising 2.7% this week in the hopes that the country's biggest pension fund will yield more money into stocks. Sumco Corp. climbed by 7.3% while Kyowa Hakko Kirin gained 2.8% in Tokyo.
The MSCI Asia Pacific Index was up 0.4% to finish at 143.53 early in the session in Hong Kong. Seven out of ten of its industry group gained this week as well.
Director of economics and strategy at First NZ Capital Ltd. Stated that the decision on ECB's part are a boost for the equities as it supported further growth in peripheral banks and cut its interest rates. He says that there's still the US labor market that gives a positive impression.
