Japanese shares rose, with the Topix index capping its longest winning streak this year, as the yen held near the lowest level in five weeks and after data showed fewer U.S. workers filed for unemployment.
Bill Gross overhauled the Pimco Unconstrained Bond Fund after replacing Chris Dialynas as manager, taking control of Pacific Investment Management Co.’s best-selling alternative to traditional fixed income.
Legg Mason Inc., the money manager that has struggled with more than five years of net redemptions, agreed to buy QS Investors, a global quantitative equity firm that split from Deutsche Bank AG in 2010.
Asian stocks rose, with the regional benchmark index extending its longest run of gains this year, as China trade data and comments by Federal Reserve Chairman Janet Yellen boosted optimism about the world’s biggest economies.
Property developers in Hong Kong and Singapore will extend the biggest declines among global peers as government curbs deter buyers in Asia’s most expensive housing markets, according to AMP Capital Investors.