Asia Stocks Rise as Yen Drops on Abe; Tradewinds Jumps
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Asian stocks rose, with the regional benchmark index trading less than 1 percent from its highest close for the year, as the yen dropped and Shinzo Abe was approved as Japan’s prime minister after promising to promote more stimulus measures.
Nissan Motor Co., a carmaker that derives almost 80 percent of sales overseas, gained 2.1 percent in Tokyo. Hitachi Ltd. rose 2.1 percent after its president said the company plans to double its operating margin. Tradewinds (Malaysia) Bhd., a palm oil and rice producer, jumped 15 percent in Kuala Lumpur after receiving a takeover offer.