Asian stocks advance as investors weigh progress in Greece talks

SYDNEY (BLOOMBERG) - Asian stocks rose, with the regional index on course for a third day of gains, as investors weighed negotiations between European leaders and Greece.

The MSCI Asia Pacific Index added 0.4 per cent to 141.63 as of 9:10 a.m. in Tokyo after dropping 3.7 per cent last week. E- mini futures on the Standard & Poor's 500 Index retreated 0.5 per cent, while Japan's Topix index added 1.1 per cent as the yen pared earlier gains.

Euro-area leaders presented Greek Prime Minister Alexis Tsipras with a laundry list of unfinished business from previous bailouts he'd pilloried in opposition and during six turbulent months in office.

"Investors have taken the view for a long time that some sort of deal would happen in Greece, and that still appears to be on the table," John Calverley, head of global thematic research at Standard Chartered Bank, told Bloomberg TV. "China is far more important. The government has already taken significant measures and we'll have to see how it plays out this week."

China reports trade data after two days of gains in the Shanghai Composite Index, where about half of companies were halted following a recent selloff. Even after an 11 percent two-day rebound, the benchmark equity gauge is down 25 per cent since June 12.

Australia's S&P/ASX 200 Index declined 0.2 per cent, as did New Zealand's NZX 50 Index. South Korea's Kospi index climbed 0.2 per cent.