Asian stocks rose this week, paring their monthly decline, as U.S. data boosted confidence in the world’s largest economy and a weaker yen helped the Nikkei 225 Stock Average touch a near six-year high.
Most stocks on Asia’s benchmark regional stock index dropped after valuations climbed to near their highest level in six months. Japanese exporters declined as the yen strengthened, while gold producers advanced.
Chemring Group Plc, a U.K. supplier of defense systems for combat jets, said it will sell units to improve its financial position after a series of profit-forecast revisions and weak sales. The stock rose the most in 15 months.
Liam McGee, who led a rebound at Hartford Financial Services Group Inc. after shunning John Paulson’s call to split the insurer, said executives shouldn’t be defensive when handling activist investors.
Hologic Inc., a maker of cervical cancer and breast biopsy tools, adopted a shareholder’s rights plan after billionaire investor Carl Icahn reported a 13 percent stake in the company and said he may seek board seats.