Asian Stocks Rally From Four-Week Low as Consumer Shares Climb

Asian stocks rose, with the regional benchmark index rebounding from a four-week low, as consumer companies advanced. Chinese shares in Hong Kong fell after the nation’s industrial output matched the weakest growth since the global financial crisis.

Tencent Holdings Ltd. rose 0.6 percent in Hong Kong trading after the Internet company posted record third-quarter profit, withstanding a slowing Chinese economy. Fortescue Metals Group Ltd. gained 3 percent in Sydney after Australia’s third-largest iron-ore supplier offered to repurchase $750 million in debt. Inpex Corp., climbed 4.2 percent in Tokyo after the energy explorer maintained its profit forecast above consensus following a drop in first-half earnings. Sumitomo Metal Mining Co. slumped 8.1 percent after cutting its full-year operating profit forecast by 37 percent.