Economics
Asian Stocks Gain as China Growth Data Matches Forecasts
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Asian stocks rose, with a regional equities gauge climbing for the fourth time in five days, after a report showed China’s economy grew 7.5 percent in the second quarter, matching economists’ estimates.
Jiangxi Copper Co., China’s No. 1 producer of the metal, advanced 2.4 percent in Hong Kong. BYD Co., an electric-car maker partly owned by Warren Buffett, jumped 11 percent in Hong Kong after China’s State Council was reported to endorse the use of new energy in government vehicles. Treasury Wine Estates Ltd., the world’s second-biggest listed winemaker by revenue, posted a record slump in Sydney after saying it would write off A$160 million ($145 million).