Asian stocks rose for a fourth day, the longest winning streak in three months, as the yen sank close to the weakest level in almost four years after the Bank of Japan reiterated its intention to maintain stimulus.
Canon Inc. , a Japanese camera maker that gets 80 percent of sales abroad, gained 2.5 percent. Sharp Corp. jumped 10 percent in Tokyo as the Nikkei newspaper reported profit at the electronics manufacturer will exceed it forecasts. GS Engineering & Construction Corp. slumped 15 percent in Seoul after reporting an unexpected loss.
The MSCI Asia Pacific Index (MXAP) gained 0.6 percent to 137.06 as of 9:23 a.m. in Tokyo, before markets in China and Hong Kong open. The measure climbed the past five months on speculation Japan would unleash more stimulus and amid signs the U.S. economy is recovering.
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