Economics
Asian Stocks Rise, Extending Weekly Gain, on U.S. Reports
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Asian stocks rose, with the regional benchmark index completing two weeks of gains, after reports from U.S. housing to manufacturing showed the world’s largest economy is strengthening.
Iluka Resources Ltd. climbed 3.4 percent in Sydney after posting an unexpected profit. Santos Ltd. jumped 3.9 percent as earnings increased at the Australian oil and gas producer. Li & Fung Ltd. lost 4.6 percent in Hong Kong after the world’s largest supplier of clothes and toys to retailers said conditions will remain challenging in the U.S. and Europe.