Asian Indices Up, US Futures Slightly Down

Asian stocks and the South Korean won advanced for a second day as Premier Wen Jiabaosaid China’s economic recovery hasn’t gained momentum, fueling speculation policy makers will boost stimulus. Grains rose on concern a U.S. drought will damage crops.

The MSCI Asia Pacific Index added 0.2 percent as of 8:10 a.m. in Hong Kong as Australia’s S&P/ASX 200 Index climbed 0.9 percent. Japan is closed today for a public holiday. U.S. equity futures fell 0.2 percent, after the Standard & Poor’s 500 Index’s biggest single-day gain in two weeks. The won advanced 0.2 percent to 1,148.10 per U.S. dollar. Corn futures jumped 3.6 percent, while wheat and soybeans rose at least 1.7 percent. Oil in New York fell 0.2 percent to $86.94 a barrel, snapping three days of gains.

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