Asian Stocks Advance for Second Day; Chinese Shares Rebound
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Asian stocks rose for a second day, led by consumer discretionary shares, as Chinese equities rebounded and investors awaited the outcome of central-bank policy meetings in Japan and Europe.
Toyota Motor Corp. climbed 2.6 percent, pacing gains among Japanese exporters, as the yen weakened. Kobe Steel Ltd. rose 5.2 percent after Credit Suisse Group AG raised its share-price target. Citic Securities Co. rallied 5.9 percent in Hong Kong after slumping a record 16 percent yesterday. Kingsoft Corp. gained 8.2 percent, rising for a second day, after Chinese handset maker Xiaomi Corp. agreed to raise its stake in the software vendor.