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Asian stocks rose as a drop in Chinese industrial profits increased pressure on Premier Wen Jiabao to step up measures to support growth in the world’s second-largest economy.
Nikkei 225 8,949.87 +43.17 +0.48%
S&P/ASX 200 4,384.2 +22.60 +0.52%
Shanghai Composite 2,052.2 +48.03 +2.40%
China Overseas Land & Investment Ltd., the country’s biggest developer by market value listed in Hong Kong, rose 1.7 percent.
Renesas Electronics Corp. advanced 1.3 percent after Kyodo reported a government-backed counter offer for the Japanese chipmaker may be double a bid by KKR & Co.Nitori Holdings Co. fell 8.6 percent in Tokyo after the furniture retailer reported profit that missed analyst estimates.
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