Asian stocks rose for a second day after reports showed U.S. home sales and durable goods orders climbed more than estimated and investors awaited the start of a summit on Europe’s debt crisis.

Nikkei 225 8,874.11 +143.62 +1.65%

S&P/ASX 200 4,044.8 +1.63 +0.04%

Shanghai Composite 2,199.05 -17.89 -0.81%

Toyota Motor Corp. advanced 2.6 percent, leading gains among Japanese carmakers.

Daiei Inc., an operator of department stores, jumped 11 percent as Japanese retail sales gained more than estimated in May.

News Corp. gained 4.1 percent in Sydney as a person with knowledge of the situation said the board approved in principle a plan to split the company’s publishing unit from its entertainment division.