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Asian Shares Rise, Nikkei Gains on Weaker Yen; Australia Touches New 5-Year High

Asian stocks rose, with Australia reaching a new 5-year high.

The yen fell after BOJ Deputy Governor Kikuo Iwata said over the weekend the Bank of Japan is committed to monetary easing. The BoJ will continue to buy bonds until its inflation target is reached, Iwata said. The weaker yen helped boost the Nikkei.

In other parts of the region, South Korean consumer confidence rose this month to the highest since May 2012.

In ADR news, Mizuho Financial ( MFG ) reportedly plans to punish several senior executives for failing to take responsibility for loans to organized crime groups.

China Life Insurance ( LFC ) reported a Q3 profit of 7.5 billion yuan ($1.2 billion), reversing a 2.2 billion yuan loss in the same period last year.

The Nikkei ended up 2.19% at 14,396.04, the Hang Seng up 0.48% at 22,806.58 and the Straits Times up 0.08% at 3,207.85.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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