Asian stocks rose on Friday buoyed by strong corporate earnings despite persistent concerns of economic weakness. The MSCI’s broadest index of Asia-Pacific shares outside Japan increased by 0.94%. Japan’s Nikkei gained 0.51%, and the S&P/ASX 200 index in Australia rose 0.33%, while China shares slumped. Investors awaited a policy decision from the Bank of Japan, which is widely expected to maintain the short-term interest rate target of -0.1% and estimates for guiding the 10-year bond yield remain unchanged. Meanwhile, the US Federal Reserve is expected to raise interest rates by 25 basis points at its meeting next week.
