Asia Stocks Rise as Chinese Shares in Hong Kong Gain After Slump
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Asian stocks rose as a weaker yen buoyed Japanese exporters and Chinese equities in Hong Kong rebounded. Phone companies and banks led gains.
China Resources Enterprise Ltd. jumped 56 percent in Hong Kong, the most in more than two decades, after announcing the sale of non-beer assets to its parent so it can focus on making the world’s most popular brew. China Mobile Ltd. surged 7.5 percent as more customers adopted its high-speed service. Toyota Motor Corp., which gets 75 percent of sales overseas, rose 2.2 percent in Tokyo. Mitsubishi UFJ Financial Group Inc. jumped 3.3 percent after Japan’s biggest lender was said to be among those in talks to buy financial assets from General Electric Co.