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Asian stocks rose, with the regional benchmark index extending its longest rally in nine months, after Tokyo won the rights to host the 2020 Olympics, China’s exports beat estimates and Australia elected a new government.
Nikkei 225 14,205.23 +344.42 +2.48%
Hang Seng 22,697.74 +76.52 +0.34%
S&P/ASX 200 5,181.47 +36.48 +0.71%
Shanghai Composite 2,212.52 +72.52 +3.39%
Agricultural Bank of China Ltd. advanced 4.3 percent, pacing gains among Chinese lenders.
Mitsubishi Estate Co. jumped 4.7 percent as Japan’s biggest developer by market value may benefit from projects such as the Olympic Village complex that will house athletes.
BHP Billiton Ltd., the world’s largest mining company, added 1.4 percent in Sydney on optimism the new Australian government will abolish a mining tax.
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