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Asian stocks rose, extending a two-month high, after Premier Li Keqiang said China’s economy won’t grow any slower than 7 percent and as U.S. housing data damped concerns the Federal Reserve will reduce stimulus.
Nikkei 225 14,778.51 +120.47 +0.82%
Hang Seng 21,930.69 +514.19 +2.40%
S&P/ASX 200 5,017.11 +15.25 +0.30%
Shanghai Composite 2,043.88 +39.11 +1.95%
Industrial & Commercial Bank of China Ltd., the world’s second-biggest lender by market value, jumped 4.1 percent in Hong Kong.
Samsung Electronics Co., the largest maker of smartphones, rose 2.7 percent in Seoul.
Nippon Steel & Sumitomo Metal Corp. climbed 3.3 percent in Tokyo after the Nikkei newspaper reported the No. 1 steelmaker agreed to a 10 percent price increase with Toyota Motor Corp.
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