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Asian stocks climbed, with the regional benchmark index headed for its highest close in 17 months, as China’s export data topped estimates and Japanese carmakers rallied on a weaker yen. Stocks extended gains after China’s exports rose 14.1 percent in December from a year earlier, while imports increased 6 percent, the customs office said today. The pickup in overseas shipments beat the 5 percent median estimate of 40 analysts in a Bloomberg News survey and a 2.9 percent increase the previous month.
Nikkei 225 10,652.64 +74.07 +0.70%
Hang Seng 23,354.31 +135.84 +0.59%
S&P/ASX 200 4,722.96 +14.82 +0.31%
Shanghai Composite 2,283.66 +8.32 +0.37%
China Cosco Holdings Co., China’s biggest shipping company, jumped 6.8 percent in Hong Kong.
Mazda Motor Corp. led automakers higher, climbing 10 percent in Tokyo as Bank of America Corp. recommended buying the shares.Korea Electric Power Corp., which supplies all of South Korea’s electricity, rose 3.6 percent after raising tariffs.
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