Asian Stocks Advance on Japan Stimulus Bets, China Manufacturing

Asia’s benchmark stock index rose, led by Japanese shares, on bets the nation’s new central bank governor will announce fresh stimulus and after a survey showed Chinese manufacturing expanding faster than estimated. Gains were limited amid efforts to fix Cyprus’s banking crisis.

Toyota Motor Corp., Japan’s biggest company, rose 1 percent. Rio Tinto Group, the world’s second-largest mining company, climbed 1.4 percent as metals prices increased. Tencent Holdings Ltd. slumped 4 percent after analysts cut price targets on China’s largest Internet company. Esprit Holdings Ltd., a clothier that counts Europe as its biggest market, slid 2.2 percent as Cyprus politicians searched for a way to address its banking crisis.