Economics
Asian Stocks Rise, Extending Six-Year High Ahead of Fed
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Asian stocks rose for a fourth day, with the regional benchmark index extending a six-year high, before the Federal Reserve updates markets on monetary policy today and as the U.S. and European Union strengthened sanctions against Russia.
Honda Motor Co. climbed 3.1 percent in Tokyo after the carmaker raised its profit forecast to the highest in seven years. Oversea-Chinese Banking Corp. gained 1.5 percent as it prepares to take Hong Kong’s Wing Hang Bank Ltd. private after shareholders accepted its $5 billion takeover offer. Hyundai Heavy Industries Co. tumbled 9.5 percent after South Korea’s biggest shipbuilder reported a wider-than-expected second-quarter loss.