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Asia Stocks Set for Best Week Since 2011 as Fed, Oil Buoy Shares

Asian stocks rose, with the regional benchmark index heading for its biggest weekly advance since December 2011, as U.S. shares rallied after minutes from the Federal Reserve’s latest meeting indicated the central bank won’t rush to raise interest rates.

Santos Ltd. jumped 8.6 percent in Sydney, leading gains among the region’s energy producers, as oil climbed above $50 a barrel for the first time since July. Noble Group Ltd. surged 16 percent in Singapore as the commodities trader was said to be overhauling its metals unit after vowing to focus on delivering immediate results. Fast Retailing Co. slumped 9.8 percent in Tokyo after the clothier’s earnings and forecasts missed analyst estimates.

The MSCI Asia Pacific Index climbed 1.7 percent to...