Asia Stocks Rise as Germany, France Pledge Support for Banks Amid Crisis
"Asian stocks rose as the heads of Europe’s two biggest economies pledged to support banks amid a debt crisis that threatens global growth. Shares of Chinese companies fell on speculation the country will maintain tighter monetary policy.
Samsung Electronics Co., the world’s second-biggest maker of mobile phones, rose 1.6 percent in Seoul and Hanjin Heavy Industries & Construction Co., which gets 45 percent of its revenue overseas, surged 15 percent. China Overseas Land & Investment fell 3.5 percent on concern the nation’s housing market is weakening.
