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Asian stocks rose, led by gains in rare-earth companies, and as Taiwan shares surged after the island’s finance minister said government-controlled funds should buy equities at lows. Japanese markets are closed today.
Nikkei 225 Closed
Hang Seng 21,857.91 +114.71 +0.53%
S&P/ASX 200 4,413 -0.07 0.00%
Shanghai Composite 2,034.04 +18.43 +0.91%
Lynas Corp., builder of the largest rare-earth refinery in Malaysia, climbed 5.5 percent in Sydney as it prepares to start production in the Southeast Asian country.
China Rare Earth Holdings Ltd. rose 4.1 percent in Hong Kong after a report the government plans to provide subsidies to the industry.
The Taiex Index jumped 2.7 percent in Taipei, leading gains among the region’s benchmark indexes.
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