Asia Stocks Rise on China Services; Investors Watch U.S.
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Asian stocks rose after a gauge of China’s services industries jumped to a six-month high and as investors watched for progress on ending a budget impasse that has shut down the U.S. government.
Sands China Ltd., a unit of billionaire Sheldon Adelson’s Las Vegas casino company, advanced 3.9 percent after its equity rating was raised at DBS Vickers Hong Kong Ltd. China Unicom (Hong Kong) Ltd. surged 8.4 percent on a report fees for calls to other networks will be cut. SoftBank Corp. rose 4 percent, overtaking Mitsubishi UFJ Financial Group Inc. as Japan’s No. 2 company by value. Leighton Holdings Ltd. slumped 10 percent on a report former executives knew of alleged corruption at Australia’s biggest builder.