Asian Stocks Climb to Three-Week High After BOJ Statement
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Asian stocks rose, with the regional benchmark index poised for a three-week high, after the Bank of Japan maintained unprecedented asset purchases and boosted lending programs. Chinese shares fell as the central bank drained liquidity from the financial system.
Toyota Motor Corp., the world’s largest carmaker, climbed 2.6 percent in Tokyo as the yen slid. BHP Billiton Ltd., the world’s biggest mining company, rose 2.3 percent in Sydney after first-half profit jumped more than expected. China Minsheng Banking Corp. fell 1.1 percent in Hong Kong, pacing declines among mainland lenders.