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Asian stocks rose, with a regional benchmark index poised to advance for the eighth time in nine days, after China’s new credit increased to a record in January, boosting optimism the world’s second-largest economy can maintain its growth momentum.
Nikkei 225 14,393.11 +80.08 +0.56%
S&P/ASX 200 5,382.89 +26.64 +0.50%
Shanghai Composite 2,135.41 +19.57 +0.92%
China Life Insurance Co., the nation’s biggest company in the sector, jumped 7.2 percent after UBS AG and Credit Suisse Group AG raised their ratings on the stock.
Newcrest Mining Ltd., Australia’s biggest gold producer, advanced 3.6 percent as bullion prices rose to a three-month high.
Rakuten Inc., an Internet retailer controlled by billionaire Hiroshi Mikitani, dropped 9.5 percent in Tokyo after announcing plans buy the Viber online messaging and calling service for $900 million.
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