Asian Stocks Snap 4-Day Rout After Turkey Rate Increase
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Asian stocks rose for the first time in five days, with the regional benchmark index rallying the most in four months, after Turkey’s central bank more than doubled interest rates to arrest a currency slide that roiled global markets.
Honda Motor Co., which gets 83 percent of its car sales outside Japan, climbed 3 percent as the yen weakened against the dollar. Atlas Iron Ltd. jumped 10 percent in Sydney after the producer of the metal raised its shipment target. Advantest Corp., a maker of electronic measuring instruments, sank 4.4 percent in Tokyo after widening its full-year net loss forecast.