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Asian stocks rose, with the regional benchmark index set to equal its longest streak of weekly advances, after U.S. economic reports beat estimates and optimism increased that Greece will get a second debt bailout, boosting demand for riskier assets.
Nikkei 225 9,384.17 +146.07 +1.58%
Hang Seng 21,457.24 +179.96 +0.85%
S&P/ASX 200 4,195.88 +14.02 +0.34%
Shanghai Composite 2,357.18 +0.32 +0.01%
Honda Motor Co., Japan’s second-largest carmaker by market value that generates 44 percent of its revenue in North America, rose 2.4 percent.
Mitsubishi UFJ Financial Group Inc., Japan’s biggest lender, led financial companies higher.
Billabong International Ltd., a global surfwear maker, surged 46 percent in Sydney after confirming a takeover approach.
Bridgestone Corp, the world’s biggest tiremaker by market value, jumped 4 percent to 1,833 yen after saying it expects net income will surge 63 percent to 168 billion yen ($2.1 billion) this year on growing sales. The Japanese tire company also said it will spend about 4.7 billion yen to boost production capacity.
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