Asia stocks open higher on record for MSCI's All-Country World Index | Malay Mail

HONG KONG, June 8 ― Asia stocks opened higher today, cruising in the slipstream of a record high overnight gauge of global equity markets, with investors hoping for inflation and monetary policy clues later in a week full of key central bank meetings and data points.

MSCI's gauge of Asia Pacific stocks outside Japan rose 0.11 per cent, following the path taken by its All-Country World Index, which advance 0.1 per cent yesterday, hitting its sixth record close in seven days.The upward momentum comes as the G7 nations reached a landmark deal on Saturday to back a minimum global corporate tax rate of at least 15 per cent, lifting shares of technology giants such as Microsoft and Facebook as their future tax obligations become more predictable.

“The start of a new week has not seen much by way of price action across all asset classes,” said Ray Attrill, head of FX Strategy at National Australia Bank. Oil prices lost more ground today as concerns about the fragile state of the global recovery in demand for crude and fuels were heightened by data showing China's oil imports fell in May.

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