July 17, 2013 - Stock prices in Asia gained their biggest advance since September 2012 amid signs the Japanese and U.S. economies are improving following this week’s statement that reassured investors that the stimulus efforts by the Federal Reserve will...
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July 17, 2013 - Stock prices in Asia gained their biggest advance since September 2012 amid signs the Japanese and U.S. economies are improving following this week’s statement that reassured investors that the stimulus efforts by the Federal Reserve will remain in place for some time.
Japanese exporters led gains as weaker yen boost the value of overseas income at carmakers and electronics manufacturers when repatriated. Toyota the world’s biggest carmaker gained 1.5 percent. Honda Motor Co rose 2.2 percent. Panasonic Corp, Japan’s second-biggest television maker, jumped 6.7 percent. Japanese lenders gained momentum after the nation’s industrial output beat expectations, Mitsubishi UFJ Financial Group Inc, Japan’s No. 1 lender led the way with 4.1 percent gains, Sumitomo Mitsui Financial Group Inc the number 2 lender followed with 2.9 percent gains.
The MSCI Asia Pacific Index climbed 1.9 percent, Japan’s Topix index rose 3.2 percent and the benchmark Nikkei 225 Stock Average jum
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