Pursuits
Asian Stocks Edge Higher Amid Easing Debt Crisis Concern
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Asian stocks advanced a second day, with the regional benchmark index posting its biggest monthly gain, as optimism Spain’s progress on deficit goals will help Europe contain its debt crisis outweighed signs of slowing global economic growth.
Hutchinson Whampoa Ltd., a Hong Kong-based operator ports in Europe, gained 1.3 percent as Spain proposed a fifth austerity budget that may allow it to meet deficit targets agreed to with the euro zone. Korea Aerospace Industries Ltd. surged 15 percent after Hyundai Heavy Industries Co. made a bid for an $890 million stake in the planemaker. Machinery-maker SMC Corp. slid 1.2 percent in Tokyo after Japan’s industrial production fell more than estimated.