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Asian stocks advanced for a third day, with the regional benchmark index heading for its highest close in three months, as manufacturing gained in the U.S. and Europe, boosting confidence the global economy is recovering. Stocks also rose as discussions between Greece and its creditors continued to progress. The Greek government is “one step from closing” a debt-swap deal with private bondholders, Finance Minister Evangelos Venizelos told reporters in Athens yesterday.
Nikkei 225 8,876.82 +67.03 +0.76%
Hang Seng 20,739.45 +406.08 +2.00%
S&P/ASX 200 4,267.85 +42.18 +1.00%
Shanghai Composite 2,312.56 +44.48 +1.96%
LG Electronics Inc. (066570), the world’s No. 3 maker of mobile phones, jumped 7.4 percent in Seoul. Glencore International Plc, rose 5.3 percent in Hong Kong on a report the world’s biggest publicly traded commodities trader is nearing an agreement to combine with Xstrata Plc. Lynas Corp. surged 19 percent in Sydney after the rare earths supplier won approval to start production in Malaysia.
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