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Asian stocks rose, with the regional benchmark index heading for the highest close in almost six weeks, after French borrowing costs fell and the slowest Chinese growth since 2009 added to speculation policy makers will ease lending curbs in the world’s No. 2 economy.
Nikkei 225 8,466 +88.04 +1.05%
Hang Seng 19,628 +615.55 +3.24%
S&P/ASX 200 4,216 +68.40 +1.65%
Shanghai Composite 2,298 +92.18 +4.18%
Financial companies contributed the most to gains on the MSCI Asia Pacific Index amid optimism Europe’s debt crisis won’t throw the global financial system into disarray. HSBC rose 3.3 percent to HK$61.60.Westpac Banking Corp. (WBC), Australia’s No. 2 lender by market value, advanced 1.4 percent to A$20.66.
Chinese developers rose in Hong Kong. Agile Property added 9 percent to HK$8.39, while Country Garden Holdings Co. (2007) climbed 4.2 percent to HK$3.26.Paladin Energy surged after reporting a 24 percent gain in output and forecasting a price increase for nuclear fuel. The shares advanced 12 percent to A$1.71.
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