Asian Stocks Gain as Hang Seng Index Rises to 2008 High
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Asian stocks rose after confidence in the U.S. housing industry climbed to the highest level in seven months and tension eased over global political conflicts. Hong Kong shares climbed to a six-year high.
Amcor Ltd. rallied 4.6 percent in Sydney as the packaging firm posted earnings that topped analyst estimates. Terumo Corp. advanced 3.5 percent after Credit Suisse Group AG upgraded shares of the Japanese medical-equipment maker. The Hang Seng Index closed above 25,000 for the first time since May 2008. Don Quijote Holdings Co. sank 3.7 percent in Tokyo, the largest drop on the regional benchmark gauge, after the discount-store owner forecast little change in profit.