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Asian stocks rose, with the regional benchmark index headed for the highest close since March, as U.S. President Barack Obama made concessions in negotiations to break the budget impasse, according to a person familiar with the talks.
Nikkei 225 9,923.01 +94.13 +0.96%
S&P/ASX 200 4,595.2 +21.81 +0.48%
Shanghai Composite 2,162.46 +2.12 +0.10%
Samsung Electronics Co., which depends on America for a fifth of its revenue, rose 0.8 percent in Seoul after Apple Inc.’s bid to ban its rival’s products in the U.S. was denied.
Mitsubishi UFJ Financial Group Inc. rose 4.6 percent, pacing gains among Japanese banks on prospects the nation’s central bank may ease monetary policy further.
Tokyo Electric Power Co. surged 16 percent after jumping 33 percent yesterday on speculation Japan’s new political leadership may allow nuclear reactors to restart.
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