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Asian stocks rose, with the regional benchmark index gaining for the first time in three days, after U.S. manufacturing unexpectedly expanded and Federal Reserve Chairman Ben S. Bernanke renewed a pledge to sustain record stimulus, boosting the outlook for exporters.
Bernanke yesterday defended the Fed’s unprecedented bond buying, saying it will spur growth, cut unemployment, help savers and support the dollar.
Australia’s S&P/ASX 200 Index advanced 1 percent. The Reserve Bank of Australia cut its benchmark interest rate to the lowest level since 2009 amid a deepening global slowdown.
Nikkei 225 8,786.05 -10.46 -0.12%
S&P/ASX 200 4,432.98 +44.36 +1.01%
Shanghai Composite Closed
Nexon Co. jumped 6 percent in Tokyo after the maker of online games agreed to buy mobile game developer Gloops Inc. for 36.5 billion yen ($468 million).
Exporters advanced. Samsung Electronics rose 1.7 percent to 1.369 million won in Seoul. Sony Corp., the maker of Bravia televisions and PlayStation game consoles, added 1.2 percent to 928 yen in Tokyo. Canon Inc., the world’s biggest camera maker, gained 2.4 percent to 2,604 yen.
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