TOKYO : Asian stocks edged toward a sixteen-month peak on Tuesday and oil held near recent highs as investors began to find more cause for cheer over global economic prospects than reasons to worry, even as data showed risks remain.
MSCI's broadest index of Asia-Pacific shares rose 0.25 per cent, heading back toward the high reached Monday, which was its strongest level since April of last year. Signs of a peaking out in European inflation on Monday echoed the narrative in the United States, providing more evidence that the biggest central banks are nearing the end of their tightening cycles.
The U.S. dollar index - which measures the currency against six major peers - rose 0.2 per cent to reached 102.07 for the first time since July 10.
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