- Japan's stocks led Asian equities higher, but the dollar sank as investors waited for US inflation data that might help define the Federal Reserve's policy path.
- Benchmark Japanese stock indexes were poised to reach new three-decade highs, thanks in part to the yen's recent depreciation. Stock indexes in mainland China remained in a narrow range, while US equities futures extended the morning session's gains.
- "The recent rally demonstrates that both domestic individual investors and foreign investors have been forced to change their outlook on Japanese stocks to a more positive one," said Ikuo Mitsui, fund manager at Aizawa Securities. "There is also a sense that investors who were late to the market are buying to follow the rise in the index."
- Stocks in Hong Kong were set to end their biggest losing streak since August. Over in China, global investment firm Loomis Sayles is becoming more optimistic about the country's devastated real estate market, claiming that recent debt restructuring agreements are bearing fruit.
