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Asia Pacific stocks close:
Asian stocks rose, with the benchmark regional index set to gain for the first week in three, after European Central Bank President Mario Draghi said the bank stands ready to buy bonds to ease the region’s debt crisis and as U.S. economic data beat estimates. ECB PresidentDraghi said the central bank is ready to start buying government bonds of indebted euro nations as soon as the necessary conditions are fulfilled. The ECB yesterday kept its benchmark interest rate unchanged at a historic low of 0.75 percent.
Nikkei 225 8,863.3 +38.71 +0.44%
S&P/ASX 200 4,494.4 +42.05 +0.94%
Shanghai Composite 2,086.17 +29.85 +1.45%
Brother Industries Ltd., a Japanese office-equipment maker that gets 28 percent of sales in Europe, advanced 2.5 percent.
BHP Billiton Ltd., the world’s biggest mining company, rose 1 percent after a gauge of commodity prices yesterday climbed by the most in two months.
LG Display Co. slid 4.5 percent in Seoul after Korea Investment & Securities cut its rating on the stock, saying television and notebook panel prices may fall.
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