Economics
Most Asian Stocks Advance After Fed as Investors Weigh Earnings
This article is for subscribers only.
Most Asian stocks advanced after the Federal Reserve said it will end its asset-purchase program amid signs of a strengthening economy and as investors analyzed earnings reports from some of the region’s biggest companies.
Samsung Electronics Co. jumped 4.5 percent in Seoul after the world’s biggest smartphone maker said fourth-quarter profit will increase. Renesas Electronics Corp. surged 5.4 percent in Tokyo after the semiconductor manufacturer announced job cuts and earnings that topped estimates. Cnooc Ltd., China’s largest offshore oil and gas producer, slumped 4.5 percent, dragging Hong Kong’s Hang Seng Index lower, after third-quarter sales declined and a lower crude price eroded earnings.