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Asian stocks outside Japan advanced, led by Chinese banks and raw-material producers after crude oil and copper futures rebounded. Japanese stocks fell as markets reopened after a public holiday. The world economy will expand 3.3 percent this year, the slowest pace since the 2009 recession, and 3.6 percent next year, the International Monetary Fund said today. That compares with July predictions of 3.5 percent in 2012 and 3.9 percent in 2013. The Washington-based lender now sees “alarmingly high” risks of a steeper slowdown.
Nikkei 225 8,769.59 -93.71 -1.06%
S&P/ASX 200 4,505.3 +23.44 +0.52%
Shanghai Composite 2,112.73 +38.31 +1.85%
BHP Billiton Ltd., the world’s No. 1 mining company and Australia’s biggest oil producer, gained 0.7 percent in Sydney.
Industrial & Commercial Bank of China Ltd. rose 2.2 percent in Hong Kong, pacing gains among Chinese lenders.
HTC Corp. tumbled 7 percent in Taipei after Asia’s No. 2 smartphone maker posted a record decline in quarterly profit.
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