Asian Stocks Head for Highest Since September; China Shares Drop
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Asian stocks rose, with the regional benchmark index recovering Tuesday’s loss to head for a six-month high, as consumer staples companies led gains. Chinese shares halted the longest winning streak in nearly 23 years.
Hengan International Group Co. jumped 5.4 percent in Hong Kong, capping its biggest two-day advance since November 2013, after the maker of baby diapers on Tuesday posted profit that beat estimates. Celltrion Inc. surged to a record in Seoul on optimism about the drugmaker’s exports. Agricultural Bank of China Ltd. fell 1.1 percent in Hong Kong after posting an unexpected decline in fourth-quarter profit as the region’s biggest economy slows.