Asian
stocks rose, with the regional benchmark index poised to gain for a second day,
before Chinese policy makers conclude a four-day meeting to map out reforms in
the world’s second-largest economy.
Incitec
Pivot Ltd., an Australian fertilizer maker, jumped 7.1 percent, after announcing
restructure plans to deliver savings. Dentsu Inc., an advertising company,
added 2.6 percent in Tokyo after raising its profit forecast. Sumitomo Mitsui
Financial Group Inc., Japan’s second-biggest lender by market value, gained 1.8
percent before reporting earnings today.
The
MSCI Asia Pacific Index added 0.5 percent to 139.89 as of 10:16 a.m. in Tokyo,
with all 10 industry groups on the measure gaining. Markets are yet to open in
Hong Kong and China.
Chinese
Politburo member Yu Zhengsheng said last month reforms to be discussed at the
meeting of the party’s Central Committee will be unprecedented “and will
promote profound changes in every area of the economy and society.” Yu is
ranked fourth in the seven-strong Politburo Standing Committee headed by party
chief and President Xi Jinping.
(Source: Bloomberg)
great gaining...
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