Asia Stocks Climb After Biggest Weekly Rally Since December 2011
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Asian stocks rose after posting their steepest weekly advance since December 2011, with technology companies and raw-material producers leading gains.
Commodities trader Noble Group Ltd. climbed 11 percent in Singapore, heading for a one-month high, amid speculation raw material prices have bottomed. China Unicom (Hong Kong) Ltd. jumped 5.5 percent in Hong Kong after people familiar with the matter said state-owned China Reform Holdings Corp. plans to buy a stake in the firm being set up to own the wireless infrastructure of the nation’s major phone companies. Infosys Ltd. dropped 2.3 percent in Mumbai after India’s second-biggest software exporter reduced its sales growth forecast in dollar terms.