Japan leads Asian stocks to 18-month high

Asian stocks have rallied for the third day in a row, led by Japanese shares, as regional indices touch highs last seen in 2011.

The MSCI Asia Pacific rose to its highest level since August 2011 shortly before the close, at 134.04, and has gained 9.9% since the start of November. Almost three stocks climbed for each one that fell, the third consecutive day of rises marking the longest winning streak for the MSCI Asia Pacifc since 4 January, according to Reuters. The 1% overnight rise was led by Japan's Nikkei 225, which gained 0.8%, despite Japan earlier reporting a record trade deficit for January. The biggest gainer in the MSCI Asia Pacific index was Japan's Tokyo Electric, up 9.7%. South Korea's Kospi ...