SYDNEY: Asian stocks gained amid record high profits of U.S. companies that exceeded estimates and falling jobless claims numbers, raising confidence in world economic growth.
Brambles Ltd., The world's largest manufacturer of wooden pallets that almost half its sales in the U.S., rose 2.5% in Sydney. Canon Inc.., The Japanese camera maker in which 80% of sales done overseas, rose 1.2% in Tokyo. Kawasaki Heavy Industries Ltd.. Rose 2.6% driven in excess of estimated net income.
"Growth eonomi reduce the number of U.S. jobless claims. The fall in the unemployment rate surprised investors, "said Juichi Wako, senior strategist Nomura Holdings Inc., Tokyo.
The MSCI Asia Pacific Index rose 0.2% to 129.93 at 9:55 Tokyo time. Nikkei 225 Stock Average rose 0.5%, Kospi rose 1%, S & P / ASX 200 added 0.4% as well as the NZX 50 index.
By : Juichi Wako (senior strategist Nomura Holdings Inc., Tokyo)
Source : Business 
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