Asian Stocks Post First Gain in Eight Weeks on Europe Optimism

Asian stocks climbed, driving the region’s key benchmark index to its first advance in eight weeks, as concern Europe’s debt crisis will hurt earnings of exporters and banks eased and the Federal Reserve said it is prepared to provide further stimulus to the U.S. economy if needed.

Toyota Motor Corp., the world’s biggest carmaker by market value, increased 3.5 percent in Tokyo through the week. Commonwealth Bank of Australia, the nation’s largest lender, gained 3.3 percent in Sydney. Foster’s Group surged 13 percent as SABMiller Plc said it will continue to pursue Australia’s biggest brewer after the company rejected its A$9.5 billion ($10 billion) offer. Air China Ltd. led a rally among airlines as oil futures fell.