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Asian Stocks Advance on China Rebound, Greek Bailout Proposal

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Asian stocks rose, following gains in global markets, as Chinese equities rebounded for a second day and Greece submitted a bailout plan similar to that proposed by its creditors.

China Huishan Dairy Holdings Co. surged 16 percent in Hong Kong to lead gains on the regional benchmark index after the milk producer’s parent bought shares in the company. BYD Co. jumped 11 percent, with the Warren Buffett-backed electric-car maker paring its fourth straight weekly drop. Fast Retailing Co. tumbled 6 percent in Tokyo after the apparel retailer said unseasonably cool weather has damped demand for summer clothes.