Asian Stocks Rise for Second Day on Global Economic Optimism
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Asian stocks rose on the first full trading day of the new year after economic reports in the U.S. Germany and India raised optimism global growth will bolster the outlook for earnings in the face of Europe’s debt crisis.
James Hardie Industries SE, a supplier of building materials that gets 68 percent of its sales from the U.S., climbed 2.5 percent in Sydney. Toyota Motor Corp. and Honda Motor Co. led a rally among carmakers on a report that Chinese demand will lift global auto sales this year. Nomura Holdings Inc. jumped 6.9 percent after SMBC Nikko Securities Inc. said Japan’s biggest brokerage probably returned to profit last quarter.