Asia’s regional benchmark stock index held near its highest level since June 2008, as the Bank of Japan maintained its plan to expand the monetary base. Sony Corp. surged, while Chinese power producers declined.
European Union leaders are set to urge faster integration of the bloc’s power and natural-gas markets to lower energy prices as the U.S. shale-gas revolution widens the EU’s cost gap with its largest trading partner.
Asian stocks rose the first time in three days, with a regional gauge set for the highest close since June 2008, after U.S. consumer sentiment beat estimates and Tokyo Electric Power Co. led Japanese utilities higher.
Asia’s benchmark stock index is poised for a second weekly advance after Japan’s Topix Index closed at the highest level since 2008 as leasing companies rallied on a report Prime Minister Shinzo Abe will encourage the practice as part of his growth strategy.
Foxconn Technology Group faces a “challenging” task in trying to meet a July deadline for cutting work hours and improving union participation, said the labor monitor appointed by Apple Inc., its largest customer.
Taiwan held military exercises off its southern coast and told people to avoid traveling to the Philippines in what Premier Jiang Yi-huah called a “turning point” in relations with the Southeast Asian nation.
Asian shares rose as the 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, boosting the earnings outlook for Japanese exporters.
Asia’s regional benchmark stock index headed for its first advance in three days, driven by a rally in Japanese exporters after the yen weakened past 102 versus the dollar. Stocks outside Japan declined.