Asian Market Update : Epic Research Malaysia

Asian stocks rose, with the benchmark equities index heading toward its first weekly gain in five weeks, as investors awaited comments from the head of the Federal Reserve. Japanese shares climbed amid speculation the nation will delay a sales tax increase.

The MSCI Asia Pacific Index gained 0.3 per cent to 127.76 as of 9:08 am in Tokyo. The gauge is down 2.6 per cent this month as investors' anxiety over the Fed's plans to raise interest rates as early as next month offset increasing signs of strength in the world's biggest economy. Fed chair Janet Yellen is due to speak after Asian markets close on Friday at an event in Massachusetts.

"We are still a little cautious," Mark Lister, head of private wealth research at Craigs Investment Partners in Wellington, which manages about US$7.2 billion, said by phone.

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