Asian Stocks Advance as Chinese Economy Grows Faster
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Asian stocks rose, with the regional benchmark index rising to its highest level since May 21, as China reported growth accelerated, boosting the outlook for the global economy.
Sands China Ltd. jumped 9.2 percent to a record in Hong Kong after the Macau casino operator reported profit that beat analyst estimates. Newcrest Mining Ltd., Australia’s biggest gold producer, rose 5.3 percent as bullion headed for its best week since August on expectations the Federal Reserve will hold off cutting stimulus. SBI Holdings Inc. fell 3 percent after the Japanese brokerage said it plans to sell convertible bonds.