Asian Stocks Rise as U.S. Housing Trumps European Debt Concern

Asian stocks gained as rising home sales in the U.S. added to signs the world’s biggest economy is recovering even as Greece struggles to negotiate with creditors ahead of a meeting of European Union on the debt crisis.

Sony Corp., Japan’s biggest exporter of consumer electronics, climbed 4 percent in Tokyo. Olympus Corp., a maker of optical equipment that has lost $4 billion in market value amid an accounting scandal, jumped 8.2 percent after it was allowed to keep its market listing. Reliance Industries Ltd., India’s most valuable company, fell 2.7 percent in Mumbai after third-quarter earnings fell for the first time in two years.