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Asian stocks rose, led by commodity producers, as Chinese inflation rose less than economists forecast, damping concern that the nation’s central bank will need to tighten monetary policy.
Nikkei 225 13,192.35 -0.24 0.00%
Hang Seng 21,891.65 +173.60 +0.80%
S&P/ASX 200 4,976.84 +71.35 +1.45%
Shanghai Composite 2,225.77 +14.18 +0.64%
BHP Billiton Ltd., the biggest mining company, posted the longest streak of gains in two months as metal prices rose.
Alumina Ltd. gained 5 percent in Sydney after its joint-venture partner Alcoa Inc. reported first-quarter earnings that exceeded analysts’ estimates.
Sundance Resources Ltd. tumbled 48 percent after terminating an agreement with Sichuan Hanlong Group following the Chinese company’s failure to secure funding for its A$1.14 billion ($1.18 billion) bid to buy the rest of the Australian iron-ore miner.
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