Most Asian Stocks Gain as China, Japan Extend Seven-Year Highs
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Most Asian stocks rose, with indexes in Japan and China closing at the highest in more than seven years.
Hong Kong Exchanges & Clearing Ltd. jumped 5.4 percent to a record amid optimism that China’s steps to open its capital markets will spur higher trading volume across the border. Nippon Paper Industries Co. climbed 3.5 percent after announcing a target to double operating profit in three years. Fortescue Metals Group Ltd. rallied 11 percent in Sydney after a report speculated the iron ore-producer may receive investment from Chinese companies. Belle International Holdings Ltd. fell 5.9 percent in Hong Kong before announcing earnings.