Economics
Asian Stocks Advance on Japan Earnings, China Industrial Profits
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Asian stocks rose this week, with the regional benchmark index capping a three-month rally, as Japanese equities gained on earnings and a pickup in Chinese industrial profits highlighted the region’s growth momentum.
Sumitomo Mitsui Financial Group Inc. advanced 11 percent after quarterly net income doubled, putting Japan’s second-largest bank by market value on pace to post record annual profit. Anhui Conch Cement Co. paced gains among Chinese makers of the material in Hong Kong after Shenyin & Wanguo Securities Co. recommended the sector.