Asian Market Update : Epic Research Malaysia

Asian stocks climbed, while the US dollar extended losses, after Federal Reserve meeting minutes reaffirmed that US policy makers aren't in a rush to raise interest rates and as the recovery in crude oil prices solidified.

Health-care shares drove the advance in Asia, tracking US pharmaceutical company gains after Pfizer Inc's scuppered deal with Allergan Plc spurred merger speculation in the industry. Japanese shares reversed earlier losses to rise for the first time in three days, even as the yen held near a 1 1/2-year high, set for its longest rally since January.

The Korean won and Malaysian ringgit climbed.

Crude rose above US$38 a barrel after jumping 5.2 per cent last session as American oil supplies unexpectedly fell from an 86-year high.

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