Feb. 13 (Bloomberg) -- Asian stocks rose for the first time in five days, led by banks and electronics companies, on optimism governments will widen efforts to end the financial crisis and revive global growth.
Australia & New Zealand Banking Group Ltd., Australia’s third largest, jumped 9 percent in Sydney as the country’s senate passed a $28 billion stimulus package. Sichuan Changhong Electric Co., China’s second-biggest television maker, surged 10 percent in Shanghai after the 21st Century Business Herald said the government may help the electronics industry. Electronics maker Pioneer Corp. tumbled 19 percent in Tokyo after widening its full-year loss forecast to a record.
“Concerted government efforts to stimulate the economy do inject some confidence in the market,” said Nicole Sze, a Singapore-based investment analyst for Bank Julius Baer & Co, which manages $350 billion. “But it will take some time before we see positive results.” more...
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