Asia stocks seen looking overvalued at 19-month highs, Aussie dollar shines

By Saikat Chatterjee
HONG KONG (Reuters) – Asian stocks edged to new 19-month highs on Thursday with gains underpinned by an ongoing rally on Wall Street while the dollar came in for a bout of profit-taking after its recent bounce.
MSCI’s broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> rose 0.2 percent to its highest since July 2015. It is up by a tenth this year thanks to more optimistic earnings expectations and an unwinding of bearish emerging market bet