Asian Stocks Rise Fourth Day as Chinese Insurers Lift Financials
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Asian stocks rose, with the regional benchmark index heading for a four-day advance, after Chinese shares extended their rally as insurers led gains.
Shares of China Life Insurance surged at least 7 percent in Hong Kong and Shanghai amid optimism the recent interest-rate cut will boost premiums. Power Assets Holdings Ltd. gained the most among utilities, rising 3.8 percent in Hong Kong. Nippon Light Metal Holdings Co. soared 6.6 percent in Tokyo after a report that Toyota Motor Corp. will use more aluminum in its Lexus vehicles.