Asian stocks rose and Treasuries retreated after Greek lawmakers voted in favor of new bailout demands, damping concern over a break up in the currency union for now. New Zealand's dollar slumped amid speculation over further policy easing, extending a selloff in commodity currencies.The MSCI Asia Pacific Index added 0.3 per cent by 10 am in Tokyo, rising for the fifth time in six days as Japanese and Australian gauges rose at least 0.6 per cent. Standard & Poor's 500 Index futures gained 0.1 per cent. Ten-year Treasury yields snapped a two-day retreat, while the euro extended losses against the dollar. The kiwi slid to a six-year low after inflation data and slumping dairy prices enforced concerns over New Zealand's economy. Australia's dollar also weakened.
Greece's parliament endorsed the fresh set of austerity measures as riot police tussled with protesters outside. The focus now shifts to whether the European Central Bank will bolster the nation's financial system. Economists predict New Zealand will join Canada in cutting rates again next week, with commodity-linked currencies leading losses this year amid the retreat in oil to raw materials. Meanwhile, the Federal Reserve is continuing to predict a gradual pace of tightening in 2015.
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