Asian Stocks Rise as Abe Poised to Add Stimulus, Call Election
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Asian stocks rose as investors await a decision by Japanese Prime Minister Shinzo Abe to put off a sales-tax increase, add stimulus and call an election, after data yesterday showed the economy entered recession.
Toyota Motor Corp., Japan’s biggest carmaker, climbed 2.5 percent, pacing gains among the nation’s exporters as the yen traded near a seven-year low. Sony Corp. jumped 6.4 percent after Mitsubishi UFJ Morgan Stanley Securities Co. raised its rating on the electronics maker. Hong Kong Exchanges & Clearing Ltd. slipped 2.4 percent, capping its biggest two-day decline since June 2012, as mainland interest in the city’s stocks remained muted on the second day of the trading link with Shanghai.