Asia Stocks Trading Near Five-Year High on BOJ Stimulus
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Asia’s regional benchmark stock index held near its highest level since June 2008, as the Bank of Japan maintained its plan to expand the monetary base. Sony Corp. surged, while Chinese power producers declined.
Sony jumped 5.9 percent in Tokyo the electronics maker’s chief executive said it will evaluate spinning off its entertainment division. Sojitz Corp. soared 13 percent after the Nikkei newspaper reported the trading company’s profit will rise. China Resources Power Holdings Co., a state-owned electricity generator, sank 4.5 percent, dragging power producers lower in Hong Kong as trading restarted after a storm.