Asian stocks rose, with the regional benchmark index advancing for a second week, as Japan’s Nikkei 225 Stock Average closed above 15,000 for the first time since 2007 after the yen touched a 4 1/2-year low against the dollar.
Malaysia’s biggest pension fund sold about 331 million ringgit ($110 million) of shares in the country’s benchmark index as Prime Minister Najib Razak’s election victory sparked the largest rally since 2008.
China’s securities regulator plans to raise the minimum proportion equity funds should have in shares, a move that may drive investments into the worst- performing major Asian stock market in the past year.
Asian stocks rose, with the benchmark regional equities gauge heading for its longest winning streak in seven weeks, as investors speculated stimulus measures will boost economic growth and increase profits.
China’s shares are still undervalued after this year’s rally and may extend gains as easing inflation allows the government to adopt more fiscal policies to boost economic growth, said ABN Amro Bank NV’s private bank unit.
PT Matahari Department Store’s owners including CVC Capital Partners Ltd. raised 12.7 trillion rupiah ($1.3 billion) selling stock in the Indonesian retailer, according to three people with knowledge of the matter.