Asian Stocks Advance on U.S. Manufacturing Expansion
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Asian stocks rose, with the regional benchmark index gaining for the first time in three days, after U.S. manufacturing unexpectedly expanded and Federal Reserve Chairman Ben S. Bernanke renewed a pledge to sustain record stimulus, boosting the outlook for exporters.
Samsung Electronics Co., South Korea’s biggest exporter of consumer electronics, increased 1.7 percent. Nexon Co. jumped 6 percent in Tokyo after the maker of online games agreed to buy mobile game developer Gloops Inc. for 36.5 billion yen ($468 million). EVA Airways Corp. climbed 3.2 percent, pacing gains among Taiwanese airlines and travel agencies, after Premier Sean Chen said the U.S. is expected to announce a visa waiver for the island’s residents.