Asian stocks and economy on the rise

|By:, SA News Editor

Asian stocks hit their highest levels in nearly three years today, after the Dow and S&P 500 ended at new records on Friday. The Nikkei stock average is up by over 0.3%, and MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS is also up about 0.3%, after reaching its highest levels since July 2011.

Other data today has shown Japan's economy growing 1.6% in January-March from the previous quarter, which revised preliminary data showing 1.5% growth.

The yuan rose after the People's Bank of China unexpectedly fixed its daily midpoint higher against the dollar for the second straight session, leading to an additional rise in other Asian currencies.

ETFs: DXJ, EWJ, FXY, YCS, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, JPNL, DXJS, JSC, ITF, JPP, JPNS, HEWJ, FJP, DXJR, DXJT, DXJH, DXJC, DXJF