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Asian stocks rose, paring this week’s losses, as Taiwan Semiconductor Manufacturing Co. led technology shares higher and mining companies rebounded.
Nikkei 225 13,316.48 +96.41 +0.73%
S&P/ASX 200 4,931.9 +7.48 +0.15%
Shanghai Composite 2,244.64 +47.04 +2.14%
TSMC, as the biggest contract maker of chips is known, jumped 6.6 percent in Taipei after forecasting record quarterly sales.
Rio Tinto Group, the world’s No. 2 mining company, climbed 4.3 percent in Sydney after a six-day, 11 percent decline.
Industrial and Commercial Bank of China Ltd., the world’s No. 1 lender by market value, rose 3.2 percent amid speculation China will widen the yuan’s trading band next week.
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