Economics
Asian Stocks Advance Led by Chipmakers; Miners Rebound
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Asian stocks rose, paring this week’s losses, as Taiwan Semiconductor Manufacturing Co. led technology shares higher and mining companies rebounded.
TSMC, as the biggest contract maker of chips is known, jumped 6.6 percent in Taipei after forecasting record quarterly sales. Rio Tinto Group, the world’s No. 2 mining company, climbed 4.3 percent in Sydney after a six-day, 11 percent decline. Industrial and Commercial Bank of China Ltd., the world’s No. 1 lender by market value, rose 4 percent amid speculation China will widen the yuan’s trading band next week.