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Asian stocks advanced, with the regional benchmark heading for its highest close in six weeks, as telecommunications companies led gains. Japanese shares rose after the yen weakened and an advisory committee said the world’s largest pension fund doesn’t need a domestic-bond focus.
Nikkei 225 15,134.75 +237.12 +1.59%
S&P/ASX 200 5,445.89 -0.34 -0.01%
Shanghai Composite 2,059.58 +6.49 +0.32%
SoftBank Corp. jumped 4.8 percent in Tokyo as the mobile carrier contributed the most to the regional benchmark’s advance.
Myer Holdings Ltd., Australia’s largest department-store operator, added 1.5 percent in Sydney after the nation’s retail sales in January climbed the most in a year.
Tencent Holdings Ltd., the world’s best-performing major technology stock in the past five years, increased 2 percent in Hong Kong to a record close.
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