Asian Stocks Advance for Third Day on Global Economic Optimism

Asian stocks advanced for a third day, with the regional benchmark index heading for its highest close in three months, as manufacturing gained in the U.S. and Europe, boosting confidence the global economy is recovering.

LG Electronics Inc., the world’s No. 3 maker of mobile phones, jumped 7.4 percent in Seoul. Toyota Motor Corp., the world’s largest carmaker by market value, advanced 1.8 percent after car sales in the U.S. increased last month. Lynas Corp. surged 19 percent in Sydney after the rare earths supplier won approval to start production in Malaysia.