The MSCI Asia Pacific Index climbed 1.1 percent to 115.64 at 4 p.m. in Tokyo, set for the highest close since May 18. Advancers led decliners 5 to 1. The Stoxx Europe 600 increased 0.5 percent to 255.60 at 8 a.m. in London. Copper headed for its longest winning streak in 11 months and oil traded near a one- month high. Standard & Poor’s 500 Index futures fell 0.2 percent.
Economists said a report today will show U.S. industrial production expanded in May by the most in four months, adding to evidence the global recovery may shrug off Europe’s debt crisis. The Federal Reserve Bank of New York said yesterday its manufacturing gauge advanced for an 11th month, helping propel the S&P 500 index up 2.4 percent yesterday.
“Stocks seem to have become more resilient after taking into account a lot of negative factors,” said Hiroyuka Maruyama, Global Markets CEO at Oppenheimer Lloyd in Tokyo. “Risk sentiment is improving as economies in the U.S. and China seem to be holding steady, easing concern about a double dip,” the Oppenheimer Lloyd CEO said.
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