South Korean divers searched for survivors a day after a ferry sinking killed at least nine and left 287 missing, while authorities probed the captain amid allegations the ship deviated from its scheduled route.
Asian stocks rose for a second day after U.S. industrial production increased more than forecast in March and Federal Reserve Chair Janet Yellen said the central bank remains committed to supporting the economic recovery.
South Korea’s government said 290 people are missing after a ferry carrying hundreds of high school students sank en route to the resort island of Jeju, in what may be the nation’s worst ferry accident in two decades.
Barely 26 years old, Zhang Xi has studied at an elite American university, worked for an investment bank in Hong Kong and an oil company in Beijing and now may launch an Internet startup with two friends.
Asian stocks rose for the first time in four days amid a rally in telecommunication shares and as investors weighed prospects for stimulus after China’s economic growth slowed to the weakest pace in six quarters.
The U.S. urged China to reduce currency interventions and let markets play a bigger role in setting the value of the yuan, in a report that declined to name any major trading partner a foreign-exchange manipulator.