Asian Stocks Extend Global Rally on U.S. Treasury's Bank Plan

March 24 (Bloomberg) -- Asian stocks rose, extending a rally that has driven the MSCI World Index to a five-week high, on optimism the U.S. Treasury’s plan to remove banks’ toxic assets will revive economic growth. Treasuries fell for a fourth day.

“The authorities are using their full armory here,” said Shane Oliver, Sydney-based head of investment strategy at AMP Capital Investors, which holds $85 billion. “History tells us that, unless you deal with the bad debts after a banking crisis, any recovery is going to be muted or delayed. The question is whether they’re doing enough.”