Asian Stocks Trade Near 6-Year High as Materials Advance
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Asian stocks were little changed, after the regional benchmark index touched a six-year high, as material and industrial shares rose and technology firms slid.
BHP Billiton Ltd., the world’s largest miner, climbed to a five-month high and Fortescue Metals Group Ltd. gained 1.8 percent in Sydney as iron-ore prices held near their highest in seven weeks. Kunlun Energy Co. surged 7.4 percent in Hong Kong on speculation it will acquire a gas distributor. Taiwan Semiconductor Manufacturing Co. fell 4.6 percent after the world’s largest contract maker of chips said it will face stiffer competition next year.