Asian stocks had their biggest jump in two months Wednesday after U.S. consumer confidence rebounded, easing concern that growth in the world’s largest economy is slowing. Toyota Motor Corp. and Samsung Electronics Co. led gains.
“This is the most important time for U.S. consumers, with the Christmas season approaching, and it is good to know they will be spending,” said Hisakazu Amano at T&D Asset Management Co. in Tokyo. “Carmakers and makers of electronic goods will reap the benefits.”
The Morgan Stanley Capital International Asia-Pacific index climbed 2 percent, its biggest jump since July 27. Japan’s Nikkei 225 index gained 2.5 percent, and the broader Topix index climbed 2.7 percent. Both measures rose the most since July 20.
Australia’s S&P/ASX 200 index added 2.1 percent, its biggest jump since March 2003. Indexes rose in the region and climbed 1 percent or more in South Korea, Hong Kong, Singapore, New Zealand and Indonesia.
Europe rises: European stocks rose, with the Dow Jones Stoxx 600 index approaching a five-year high, on speculation that takeovers will increase and the U.S. economy will fuel earnings growth.
The Stoxx 600 climbed 0.5 percent and is 2.4 points from a five-year high reached on May 9. The Stoxx 50 added 0.3 percent, and the Euro Stoxx 50, a measure for the nations sharing the euro, rose 0.6 percent. National benchmarks increased in all 18 Western European markets.
