Asian stocks rose this week, with the regional gauge capping its longest streak of weekly gains since September, as U.S. data signaled resilience in the world’s biggest economy and concern about the Ukraine crisis eased.
Most Chinese stocks fell as investors weighed the implications of Shanghai Chaori Solar Energy Science & Technology Co.’s bond default and prospects for economic reforms at the National People’s Congress.
China Vanke Co., the nation’s biggest developer by market value traded on mainland exchanges, said full-year profit rose 21 percent as it sold more small and medium-sized homes that are less affected by government curbs.
China Vanke Co., the country’s biggest developer by market value, surged the most since June 2010 in Shenzhen after Hong Kong’s regulator approved the company’s plan to shift foreign-currency shares to the city.
Asian stocks rose, rebounding from the regional index’s first back-to-back declines in a month, as investors weighed the crisis in Crimea and ahead of the National People’s Congress annual meeting in China starting tomorrow.
China’s stocks rose before next week’s meeting of the National People’s Congress as property shares halted a six-day slide and consumer shares rallied. The benchmark index posted its first monthly advance since November.