Asian Stocks Extend 18-Month High on Global Outlook
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Asian stocks rose for a third day, with the regional benchmark index extending an 18-month high, amid signs the global economy is recovering.
South Korea’s Kospi Index led benchmark gauges higher after Bank of Korea Governor Kim Choong Soo said the world economic outlook is improving. Tokyo Electric Power Co. led gains among Japanese utilities. BHP Billiton Ltd., the world’s largest mining company, fell 0.9 percent in Sydney after reporting a 58 percent drop in first-half profit. Woodside Petroleum Ltd., Australia’s second-biggest producer of oil and gas, added 3.1 percent after full-year profit almost doubled.