Economics
Asian Stocks Have Biggest Weekly Gain This Year After Fed Plan
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Asian stocks rose this week, driving up the benchmark index by the most this year, on optimism the U.S. Federal Reserve will succeed in stoking growth in the world’s biggest economy.
Mitsubishi Corp., Japan’s biggest commodities trader, advanced 7.8 percent in Tokyo as oil and metal prices climbed. Cnooc Ltd., China’s biggest offshore oil explorer, jumped 10 percent in Hong Kong. BHP Billiton Ltd. and Rio Tinto Group, the world’s No. 1 and No. 3 mining companies, climbed more than 5 percent in Sydney. Nissan Motor Co., Japan’s No. 3 carmaker, gained 7.6 percent after reporting higher-than-expected earnings and raising its profit forecast.