Asian Stocks Rise From Five-Week Low on U.S. Factory Data
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Asian stocks rose, with the regional benchmark rebounding from a five-week low, as data showing improvement in U.S. factory output boosted optimism for the world’s biggest economy.
LG Electronics Inc., the world’s second-biggest maker of televisions, added 4.2 percent in Seoul. Lippo Ltd., founded by Indonesian tycoon Mochtar Riady, surged by the most since it started trading under its current name after South Korea approved a proposal by the company and Las Vegas-based partner Caesars Entertainment Corp. to build a casino. Tencent Holdings Ltd., Asia’s biggest Internet company, jumped 5.8 percent, snapping a four-day decline, before releasing earnings tomorrow.