Asian Stocks Outside Japan Advance on U.S. Economic Data
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Asian stocks outside Japan gained after U.S. housing and consumer confidence data beat estimates. Japanese shares fell as the yen rose ahead of an Italian bond sale, with yields surging after the nation’s deadlocked election stoked debt crisis concern.
Techtronic Industries Co., a power-tool maker that counts the U.S. as its biggest market, advanced 5.8 percent in Hong Kong. Canon Inc., a Japanese camera maker that gets 29 percent of its sales in Europe, lost 2.7 percent. Newcrest Mining Ltd. added 2 percent in Sydney as gold jumped the most since November after Federal Reserve Chairman Ben S. Bernanke defended the central bank’s asset purchases.