Asian Stocks Rise Before Fed Decision on Bond Purchases
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Asian stocks rose before the Federal Reserve decides later today whether to slow its $85 billion of monthly asset purchases.
Sharp Corp. climbed 1.6 percent in Tokyo as consumer discretionary companies led gains on the Asia-Pacific benchmark index. Kawasaki Heavy Industries Ltd. surged 4.7 percent to a six-year high amid unconfirmed reports the Japanese manufacturer secured a 180 billion-yen ($1.8 billion) railcar order. Kansai Electric Power Co. slid 1.9 percent in Tokyo after the utility halted units at two power plants.