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Asian stocks rose for a fifth day, reversing earlier losses, as a weakening yen boosted Japanese shares and Canon Inc. surged on plans for a share buyback.
Nikkei 225 14,053.87 +75.43 +0.54 %
Hang Seng 22,324.22 -70.36 -0.31 %
S&P/ASX 200 5,161.64 -34.93 -0.67 %
Shanghai Composite 2,127.62 +4.51 +0.21 %
Mitsubishi UFJ Financial Group Inc., Japan’s largest bank, climbed 2.1 percent.
Canon gained 3.8 percent in Tokyo after the camera maker said it will spend as much as 50 billion yen ($502 million) to buy back its shares.
Samsung Life Insurance Co. sank 5.2 percent in Seoul after the insurer’s fourth-biggest shareholder sold three million shares at a discount to yesterday’s closing price.
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