Wednesday, 23 May 2018
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Asia Stocks Climb Amid Solid U.S. Economic Data, Tencent Results

Asian stocks rose after Chinese tech giant Tencent Holdings Ltd. reported strong profit growth and solid U.S. economic data gave investors some reprieve amid ongoing U.S.-China trade talks in Washington.

The MSCI Asia Pacific Index rose 0.3 percent to 175.16 as of 10:36 a.m. in Hong Kong, brushing past rising U.S. 10-year Treasury yields. Japan's Topix Indexgained as the yen held recent losses against the U.S. dollar. Tencent gave the regional benchmark gauge a boost after climbing as much as 7.1 percent. The company reported record quarterly profit and analysts said its gaming revenue may slide in the short term as it works at monetizing products but the company™s long-term outlook remains solid.

Source : Bloomberg

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