Economics
Asia Stocks Rise as IMF Bullish After U.S. Growth Data
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Asian stocks outside Japan rose after data showed faster-than-estimated economic growth in the U.S. and the International Monetary Fund said it will raise its outlook for the world’s largest economy.
Hyundai Merchant Marine Co., Korea’s second-largest shipping company, surged 15 percent in Seoul after Hyundai Group said it plans to sell assets including financial units and its hotel business for at least 3.3 trillion won ($3.1 billion). Echo Entertainment Group Ltd. advanced 6.1 percent in Sydney after a managing director of its Star casino resigned. China Mobile Ltd. added 0.8 percent in Hong Kong after striking a deal with Apple Inc. to sell the iPhone in its home market.