Asian Stocks Rise in Biggest Weekly Rally Since 1998

March 27 (Bloomberg) -- Asian stocks climbed in the regional benchmark index’s biggest weekly rally since 1998, as higher commodity prices and better-than-estimated earnings at U.S. companies boosted optimism the global recession is abating.

“U.S. consumer spending appears to be picking up,” Mitsushige Akino, who oversees the equivalent of $615 million at Tokyo-based Ichiyoshi Investment Management Co., said in an interview with Bloomberg Television. “The market will remain resilient, though technical indicators indicate it is overheating.”