Asian stocks rose, with the regional benchmark index headed for the biggest gain in two weeks, as exporters advanced after the U.S. reported better-than-expected retail sales. Asian banks followed gains among U.S. banks after Citigroup unexpectedly reported a third-quarter profit and a surge in bond-trading revenue. Financial shares accounted for 28 percent of the advance in the MSCI Asia Pacific Index today.
Nikkei 225 8,701.31 +123.38 +1.44%
S&P/ASX 200 4,491.5 +8.07 +0.18%
Shanghai Composite 2,095.19 -3.51 -0.17%
Samsung Electronics Co., which gets a fifth of its sales in Americas, rose 2.3 percent in Seoul.
Mizuho Financial Group Inc., Japan’s third-largest bank by market value, gained 1.6 percent, pacing gains among lenders after Citigroup Inc.’s profit beat estimates.
Softbank Corp. jumped 9.6 percent after Japan’s third-largest mobile-phone company agreed to acquire 70 percent of Sprint Nextel Corp. for $20.1 billion.
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