Asian Stocks Extend Two-Week High After China Reforms
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Asian stocks rose for a third day, with the benchmark index extending a two-week high, after China vowed to carry out the broadest expansion of economic freedoms since at least the 1990s.
China Mengniu Dairy Co. jumped 4.8 percent after policy makers said they would relax the nation’s one-child policy, boosting the outlook for infant-formula producers. Citic Securities Co. surged 13 percent in Hong Kong, leading gains among Chinese brokerages as the government flagged policy changes that portend the end of a ban on mainland initial public offerings. Dwango Co. soared 17 percent in Tokyo after jumping by the daily limit on Nov. 15, when the provider of content for mobile phones said Nintendo Co. bought a stake in the company.