Asian stocks climbed toward a more than eight-month high as a weaker yen buoyed Japanese shares before the central bank reports on monetary policy. Crude oil fell from its highest price this year, and copper retreated.The MSCI Asia Pacific Index rose a fifth day, adding 0.3 per cent by 10:01 a.m. in Tokyo as Japan's Topix index increased 0.6 per cent. The yen was near a more than two-week low, while the Korean won slipped 0.6 per cent. Standard & Poor's 500 Index futures were little changed after the gauge dropped 0.2 per cent in the last 30 minutes of US trading. Oil in New York fell for the first time in three days. Copper lost 0.2 per cent in London.
The Bank of Japan is expected to maintain its record stimulus on Wednesday, while minutes of the Federal Reserve's March meeting will be released, potentially giving investors more clarity on the timeline for US rate rises. Alcoa Inc unofficially kicks off the American earnings season, and the euro area reports on retail sales. Oil supplies data is due, with analysts predicting US stockpiles expanded from a record.
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