The MSCI Asia Pacific Index added 2.7 percent at 3:05 p.m. in Tokyo. Euro Stoxx 50 futures climbed 0.7 percent and Standard & Poor’s 500 Index futures gained 0.2 percent. Nasdaq contracts slipped as much as 0.8 percent before trading little changed, after Apple Inc. said co-founder Steve Jobs died. The euro weakened 0.1 percent to $1.3337 before European Central Bank policy makers decide on interest rates today. Copper increased 1.8 percent, while oil rose 0.1 percent in New York.
European Union officials are working on plans to boost bank capital to contain the debt crisis, the International Monetary Fund said. Investors are awaiting employment data to gauge the strength of the U.S. economic recovery, after reports yesterday showed faster-than-forecast growth in payrolls and service industries. Jobs, who built the world’s most valuable technology company, died at 56.
“The market is a bit more optimistic about prospects for European policy makers to find a solution, particularly with the solvency of European banks,” said Tim Schroeders, who helps manage $1 billion in equities at Pengana Capital Ltd. in Melbourne. The latest U.S. data is “a good sign” that the economy is stabilizing, he said.
About six stocks advanced for every one that fell on MSCI’s Asia Pacific Index, helping the gauge snap a four-day, 6 percent slump. Japan’s Nikkei 225 Stock Average rose 1.7 percent, Australia’s S&P/ASX Index added 3.7 percent and South Korea’s Kospi Index rallied 2.6 percent. The Hang Seng Index jumped 4.4 percent in Hong Kong, where markets were closed for a holiday yesterday. China and India are shut today. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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