SINGAPORE: Asian stocks climbed to 16-year highs, led by exporters including Toyota Motor Corp and LG.Philips LCD Co, after Federal Reserve officials suggested US policymakers are almost finished raising rates.
“Exporters are gaining as investors anticipate the Fed may stop raising rates later this year,'' said Hiroshi Chano, who helps manage US$6.7bil at Yasuda Asset Management Co in Tokyo. “The US economy is more stable than investors initially feared.''
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