Japan stocks advanced for a second day after the yen weakened and official data showed China’s manufacturing expanded for the first time in three months. Panasonic Corp. led electronics makers lower after forecasting a loss 30 times bigger than expected.
Japanese shares climbed after Federal Reserve Chairman Ben S. Bernanke said he’s prepared to do more to stimulate U.S. growth if needed. Gains were limited after ruling party powerbroker Ichiro Ozawa was found not guilty of violating campaign finance laws, raising concern gridlock may make it difficult to pass new consumption taxes.
Japanese stocks rose, sending the Nikkei 225 Stock Average to a one-month high, on speculation European leaders will step up efforts to fight the debt crisis at a summit tomorrow as 15 euro nations face the threat of rating downgrades.
Japanese stock futures and shares of Australian uranium producers fell after Japan’s strongest earthquake on record caused large-scale destruction in the country’s northeast, including to nuclear power stations.
Hong Kong stocks rose, driving the benchmark index to a two-week high, as the International Monetary Fund raised global economic forecasts and Spain sold more debt than targeted, boosting the outlook for exporters.