Asian Stocks Rise 12th Week Since December on U.S. Economy


17/03/2012 04:49 AST  Bloomberg

Asian stocks rose this week, with the regional benchmark index capping its 12th week of advance in 13 weeks, as positive economic reports from the U.S. boosted the outlook for the region’s exporters.

Toyota Motor Corp. (7203), Japan’s No. 1 carmaker, climbed 4.7 percent as the yen weakened against the U.S. dollar. Li & Fung Ltd., a supplier of clothes and toys to Wal-Mart Stores Inc., advanced 7.6 percent as U.S. retail sales, consumer confidence and employment reports exceeded economists’ estimates. China Railway Construction Corp. dropped 8.9 percent after a section of a high-speed track it built collapsed in central China’s Hubei province following heavy rains.

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