Asian Stocks Rise 7th Day as Fed Boosts Asset Purchases
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Asian stocks rose a seventh day, sending the benchmark index to its longest winning streak since January 2011, after the Federal Reserve said it will buy mortgage-backed securities to bolster economic growth.
Techtronic Industries Co., a power tools maker that gets 72 percent of its sales in North America, gained 8.2 percent in Hong Kong. Zhaojin Mining Industry Co. surged 16 percent in Hong Kong after gold prices climbed to a six-month high. Daewoo Securities Co. paced gains among financial firms, jumping 15 percent in Seoul.