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.
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.
ASML Holding NV, Europe’s largest semiconductor-equipment supplier, predicted sales trailing analysts’ estimates on slowing demand from makers of chips that process functions in devices. The stock fell the most in more than two years.
Asian stocks slipped to a two-week low as Chinese equities tumbled after a report showed the slowest increase in the nation’s money supply on record, underscoring risks of a deepening slowdown in the world’s second-biggest economy.
Production at Mitsubishi Corp.’s Cape Flattery, one of the world’s biggest silica sand mines, will be halted for weeks and shipments delayed after Tropical Cyclone Ita buffeted Australia’s Queensland state.