Asian Stocks Head for 18-Month High; Bridgestone Jumps
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Asian stocks rose, with the regional benchmark index headed for its highest close in 18 months, as Bridgestone Corp. surged the most in four years after raising its profit forecast. Gains were limited on concern China may act to cool the property market.
Bridgestone, the world’s biggest tiremaker, soared 10 percent in Tokyo. China Resources Land Ltd. dropped 4.4 percent in Hong Kong. Nissan Motor Co., a Japanese carmaker that gets 79 percent of its revenue abroad, fell 1.1 percent as the yen strengthened after Finance Minister Taro Aso ruled out foreign bond buying. Gree Inc., a social-network website operator, rose