Singapore — Asian stocks advanced on Thursday as oil prices struggled to climb off a 10-month low hit overnight on concern about a supply glut and falling demand. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.3%. Japan’s Nikkei fell 0.1%, with shares in vehicle air bag maker Takata plunging 50% as they exchanged hands for the first time since sources said last week it was preparing to file for bankruptcy. South Korea’s Kospi added 0.2%, while Australian shares jumped 0.6%. Chinese shares added to gains made on Wednesday after MSCI included mainland shares in its emerging market indices. The blue-chip index rose 0.4%. Hong Kong’s Hang Seng was flat. Crude oil crept up from multimonth lows hit on Wednesday after data showed a drop in US inventories, but gains were capped as investors fretted about whether Opec-led output cuts would dent a three-year glut. "The time for contrarian trades in oil is fast approaching, but I would want to see some stability in price ...
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