Asian Stocks Gain, Snap Four-Day Decline, as Yen Weakens
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Asian stocks rose, snapping a four-day drop on the regional equities benchmark, as Japanese shares were boosted by a weaker yen and Commonwealth Bank of Australia’s profit surged.
Sony Corp., which gets almost 70 percent of revenue overseas, climbed 1.2 percent. Commonwealth Bank, Australia’s largest lender by market value, advanced 1.3 percent to a record after saying first-quarter cash profit jumped 14 percent on lower bad-debt charges. Itochu Corp. rose 2.9 percent as Japan’s third-largest trading house headed for record annual net income.