Samsung Electronics Co. (005930), Asia’s No. 1 consumer-electronics maker, added 1.1 percent in Seoul. GS Engineering & Construction Corp. climbed 3.9 percent on speculaion the South Korean contractor may win orders from the Middle East. BHP Billiton Ltd., Australia’s biggest oil producer and the world’s largest mining company, advanced 1.3 percent as oil futures traded near a one-week high.
“The market should continue to look fairly positive,” Stephen Halmarick, Sydney-based head of investment markets research at Colonial First State Global Asset Management, said on Bloomberg Television. His firm oversees about $150 billion. “This week will be focused on whether the world economy can continue to recover. Data has been more positive lately, with some signs of stability in Europe and better data out of the U.S.”
The MSCI Asia Pacific Index (MXAP) gained 0.2 percent to 128.26 as of 9:44 a.m. in Tokyo. The gauge climbed 12 percent this year through March 16 as positive economic reports from the U.S. boosted the outlook for the region’s exporters.
To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net
To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net
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