Economics
Asia Stocks Rise as China Stimulus Tempers Europe Concern
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Asian stocks rose amid speculation China will do more to boost growth in the world’s second-largest economy, tempering concern about Europe’s debt crisis. China has no intention for large-scale stimulus, the official Xinhua News reported after most markets in the region closed.
Geely Automobile Holdings Ltd. led Chinese carmakers higher after BNP Paribas SA said they may benefit from government subsidies. Komatsu Ltd., a Japanese construction machinery maker that gets 14 percent of sales from China, gained 3.2 percent. Shui On Land Ltd. jumped 7.3 percent in Hong Kong after the developer controlled by billionaire Vincent Lo said it plans to spin off its Xintiandi entertainment complex unit.