"The U.S. economy has gone through a bit of soft patch, but the housing sector does seem to be heading for recovery, which is positive from a longer-term perspective for America,"
- AMP Capital Investors Ltd.
Japanese stocks advanced after the U.S. housing starts rose to the highest level since 2008, supporting Asian exporters earnings outlook. However, gains may be limited, due to the Yen's strengthening versus most of major counterparts.
Japan's Nikkei 225 Stock Average gained 0.9% to 8,809.09.
"The U.S. economy has gone through a bit of soft patch, but the housing sector does seem to be heading for recovery, which is positive from a longer-term perspective for America," said Shane Oliver, Head of Investment Strategy at AMP Capital Investors Ltd., "The market still likes what it sees."
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