Tokyo — Asian stocks inched up to near-decade highs on Thursday, continuing to ride on a global equities rally, while the dollar resumed its rise on the back of a spike in US yields. Trade was cautious, however, as investors waited for third-quarter economic growth data from China at 2am GMT, which is expected to show its momentum is starting to cool as the government reins in the property market and cracks down on riskier lending. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.05%, nearing a 10-year peak scaled on Tuesday. Japan’s Nikkei rose 0.4% to a fresh 21-year high, while South Korea’s Kospi, on a record-breaking tear for the past week, nudged up to an historical high and Australian stocks added 0.3%. The Dow closed above 23,000 for the first time on Wednesday, driven by a jump in IBM after it hinted at a return to revenue growth. Elsewhere, Germany’s DAX had risen to another record high overnight thanks to a soggy euro. "The surrounding environment con...
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