Asian Stocks Rise as Japanese Equities Rally on BOJ
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Asian stocks rose, with the regional benchmark climbing for the first time in three days, as Japan’s central bank began a two-day policy meeting and better-than-estimated U.S. factory orders buoyed exporters.
Honda Motor Co., which gets 44 percent of its revenue in North America, gained 4.6 percent in Tokyo as rising demand for motor vehicles boosted U.S. factory orders. Fast Retailing Co. climbed to the highest on record as warmer weather in Japan and an extra Sunday in March fueled the biggest monthly sales jump in more than three years at Asia’s largest apparel retailer. Commonwealth Bank of Australia fell 0.7 percent as a report showed new home sales in the country retreated.