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Asian stocks rose, snapping a two- day loss, after Federal Reserve Chairman Ben S. Bernanke said accommodative monetary policy is still needed and a report showed German business confidence unexpectedly gained, improving the earnings outlook for Asian exporters.
Nikkei 225 10,255.15 +236.91 +2.36%
Hang Seng 21,010.96 +342.10 +1.66%
S&P/ASX 200 4,301.33 +38.53 +0.90%
Shanghai Composite 2,347.18 -3.42 -0.15%
Honda Motor Co., a Japanese carmaker that gets 83 percent of its sales abroad, added 2.5 percent.
Sumitomo Mitsui Financial Group Inc., Japan’s second-biggest lender by market value, added 2 percent after German Chancellor Angela Merkel signaled she stands ready to do more to tame Europe’s debt crisis.
Korea Gas Corp., the world’s biggest liquefied natural gas importer, jumped 8.9 percent in Seoul after its Italian partner found reserves in Mozambique.
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