Asian stocks rose, with the regional benchmark index posting its first back-to-back gain in two weeks, as investors weighed earnings and U.S. data showing service-industries growth against a private jobs report that missed estimates.
China’s move to relax its currency peg to the dollar is luring Pengana Capital Ltd. and AMP Capital Investors Ltd. to commodity stocks as they bet on rising demand in the world’s third-largest economy.
ASX Ltd. , operator of Australia’s stock exchange, plans to open a second equities market aimed at professional speculators to head off competition after regulators effectively ended its monopoly on trading.
Train drivers employed by Rio Tinto Group to haul iron ore across Australia’s outback make about the same money as surgeons in the U.S. It’s little wonder the mining company will replace them with robot locomotives.
Australia’s plan to impose a 40 percent tax on the profits of resource companies may hurt returns from Queensland’s liquefied natural gas projects and hamper talks with potential customers, analysts said.
BHP Billiton Ltd. , the world’s largest mining company, resumed a share buyback after abandoning its hostile $40 billion takeover offer for Canada’s Potash Corp. of Saskatchewan Inc. in the face of government opposition.