Asian stocks have advanced in trading today (February 18th) on news the G20 nations have decided not to disapprove of policies that have weakened the Japanese currency.
The MSCI Asia Pacific Index improved by 0.7 per cent to 133.76 in the afternoon with approximately six stocks moving up for every four that fell, reports Bloomberg.
In addition, analysts found the measure is trading close to the highest level recorded since August 2011, while financial markets in China and Taiwan reopened after the Lunar New Year.
Toyota Motor also advanced by 1.3 per cent today as the yen fell, which boosted earnings prospects for Japanese exporters.
Commenting on the results, Andrew Peace – Sydney-based chief investment strategist at Russell Investment Group – said: "What we are seeing right now is currencies are not being manipulated, but currencies are just reflecting the natural outcome of monetary policy choices being made by countries."
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