Asian Stocks Heading for Week High as China Shares Climb
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Asian stocks rose for a fourth day, heading for a one-week high, as Chinese shares rallied amid optimism for next week’s exchange link with Hong Kong.
Haitong Securities Co. jumped to a record high as brokerages rallied in China and Hong Kong. Rakuten Inc., the operator of Japan’s largest online mall, surged 5.6 percent amid speculation the nation will delay another increase to its sales tax. Hyundai Heavy Industries Co. soared 11 percent after the South Korean shipbuilder won a $2 billion order. BOC Hong Kong Holdings Ltd. jumped 3.8 percent after the city lifted its cap on yuan conversion.