Asian stocks held at a two-week high after China vowed to
carry out the broadest expansion of economic freedoms since at least the 1990s.
Samsung Electronics Co. , the South Korean consumer
electronics maker that gets 20 percent of its revenue in China, rose 0.5
percent in Seoul. Dwango Co. soared 17 percent in Tokyo, extending a 21 percent
gain on Nov. 15 after saying Nintendo Co. bought a stake in the company that
provides content through mobile phones. Chorus Ltd. dropped 3.7 percent after
the operator of New Zealand’s telephone network withdrew its dividend guidance.
The MSCI Asia Pacific Index added 0.1 percent to 141.75 as
of 9:41 a.m. in Tokyo after closing at the highest level since Oct. 31 last
week. Japan’s Topix (TPX) index gained 0.2 percent as the yen maintained its
slide past 100 per dollar. China pledged to allow more private investment in
state-controlled industries, loosen its one-child policy and expand farmers’
land rights, according to a Communist Party policy decision published by Xinhua
News Agency on Nov. 15.
Futures on Hong Kong’s Hang Seng Index gained 1.2 percent
in their most recent trading session, while contracts on the Hang Seng China
Enterprises Index jumped 2.2 percent. The Bloomberg China-US Index of the most
traded Chinese stocks in the U.S. surged 3.4 percent on Nov. 15, the biggest
daily advance since July.
(Source: Bloomberg)
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