Economics
Asian Stocks Advance as China Moves to Ease Cash Crunch
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Asian stocks rose, with the regional benchmark index heading for a three-month high, as China moved to alleviate a cash crunch and ahead of U.S. reports that are expected to show the world’s biggest economy is improving.
Taiwan Semiconductor Manufacturing Co., the world’s biggest contract manufacturer of computer chips, gained 1.5 percent in Taipei. Asia Pacific Breweries Ltd. jumped 4.8 percent in Singapore after Heineken NV raised its offer for a controlling stake in the maker of Tiger beer. PICC Property & Casualty Co. advanced 7.3 percent in Hong Kong after China’s biggest non-life insurer posted higher first-half earnings.