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Asian stock indices closed higher following Friday's gains on Wall Street. Stocks were supported by Friday's strong U.S. economic data. The Reuters/Michigan consumer sentiment index rose to 86.4 in October from 84.6 in September, beating forecasts of a decline to 84.3.
Housing starts in the U.S. climbed 6.3% to 1.017 million annualized rate in September from a 957,000 pace in August, in line with expectations.
Japanese stocks advanced on Government Pension Investment Fund (GPIF) report. The Nikkei newspaper said that Japan's Government Pension Investment Fund will raise its target for local shares to around 25% from 12%.
NEC Corp. shares climbed 6.5% on a report the company's half-year operating profit will rise.
Toyota Motor Corp. shares rose 5.2% on a weaker yen.
Indexes on the close:
Nikkei 225 15,111.23 +578.72 +3.98 %
Hang Seng 23,070.26 +47.05 +0.20 %
Shanghai Composite 2,356.73 +15.54 +0.66 %
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