Asian Stocks Heading for Six-Week High as Japan Climbs

Asian stocks advanced, with the regional benchmark gauge ending at a six-week high, as telecommunications companies led gains. Japanese shares rose after the yen weakened and an advisory committee said the world’s largest pension fund doesn’t need a domestic-bond focus.

SoftBank Corp. jumped 4.8 percent in Tokyo as the mobile carrier contributed the most to the regional benchmark’s advance. Myer Holdings Ltd., Australia’s largest department-store operator, added 1.5 percent in Sydney after the nation’s retail sales in January climbed the most in a year. Tencent Holdings Ltd., the world’s best-performing major technology stock in the past five years, increased 2 percent in Hong Kong to a record close.