Asian stocks rose for a fourth day, with Japanese shares gaining as the yen weakened after a report showed machinery orders beat estimates and amid a report Prime Minister Shinzo Abe is considering a corporate-tax cut.
Honda Motor Co., which gets 83 percent of sales from overseas, increased 2.3 percent, pacing gains among Japanese exporters. Sony Financial Holdings Inc., the financial services unit of electronics maker Sony Corp., jumped 3.4 percent in Tokyo after proposing a higher dividend. Newcrest Mining Ltd. slipped 2.2 percent as brokers cut ratings on shares of Australia’s biggest gold producer.
The MSCI Asia Pacific Index added 0.9 percent to 135.26 as of 1:32 p.m. in Hong Kong, with about four shares rising for each that fell. Nine of the 10 industry groups increased on the gauge, which is headed for its longest winning streak in six weeks.
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Japan Leads The Way, Asian Stocks Rise For Fourth Day
Published 08/13/2013, 03:31 AM
Updated 07/09/2023, 06:31 AM
Japan Leads The Way, Asian Stocks Rise For Fourth Day
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