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Asian stocks climbed, extending the longest run of weekly gains since 2005, after Greece’s parliament approved austerity measures to help secure a second debt bailout.
Nikkei 225 8,999.18 +52.01 +0.58%
Hang Seng 20,887.4 +103.54 +0.50%
S&P/ASX 200 4,285.14 +39.81 +0.94%
Shanghai Composite 2,351.85 -0.13 -0.01%
Tokyo Electric gained 1 percent to 202 yen. The shares rallied as much as 8 percent after Japan’s government agreed to give $8.9 billion to support compensation payments for the Fukushima nuclear disaster, averting the risk the utility will have its stock delisted.
Nitto Denko Corp. jumped 4 percent to 3,155 yen in Tokyo after Nomura Holdings Inc. raised its recommendation for the shares to “buy” from “neutral.”
Chinese banks rose after reported comments by Premier Wen comments sparked speculation the government may further ease monetary policy. Economic circumstances in the first quarter deserve attention, Wen told business executives last week in Beijing, the official Xinhua News Agency reported yesterday.
Among shares that fell, China Resources Land Ltd., a property developer, dropped 6.2 percent to HK$13.92. The shares slipped after new lending in China missed estimates in January and the eastern city of Wuhu backtracked on proposals to ease real-estate market controls.
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