Asian Stocks Swing Between Gains, Losses Ahead of Europe Summit
This article is for subscribers only.
Asian stocks swung between gains and losses, heading for a weekly drop, on speculation European policy makers will struggle to reach a resolution on how to fight the region’s debt crisis.
Fanuc Corp., a Japanese manufacturer of industrial robots that gets 75 percent of its sales abroad, rose 2.4 percent after an index of manufacturing in Philadelphia unexpectedly increased. Hynix Semiconductor Inc., the world’s second-largest maker of computer memory chips, rose 10 percent in Seoul after a research company said Apple Inc. used the company’s NAND-flash chips in the iPhone for the first time. Mitsui & Co. led losses in Japanese traders as commodity prices headed for the first weekly loss in three weeks.