Asian Stocks Rise as Topix Rallies on Japanese Exports
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Asian stocks rose, with the regional benchmark index heading for a two-week high, as investors awaited the conclusion of a Federal Reserve policy meeting. Japanese exporters rallied after the nation’s shipments increased more than analysts estimated.
Honda Motor Co., a Japanese carmaker that gets about 83 percent of sales from overseas, added 2 percent. Rio Tinto Group gained 1.6 percent after a report the world’s No. 2 mining company will cut jobs at its Australian iron-ore operations. China Mengniu Dairy Co., the country’s largest dairy producer, surged 6.9 percent in Hong Kong after offering to buy a local infant-formula maker.