Asian stocks rose, with the regional benchmark index headed for the longest winning streak since January 2011, after the Federal Reserve said it will buy mortgage-backed securities to bolster economic growth.

Nikkei 225 9,159.39 +164.24 +1.83%

S&P/ASX 200 4,390 +50.58 +1.17%

Shanghai Composite 2,129.14 +18.76 +0.89%

Techtronic Industries Co., a maker of Ryobi power tools that gets 72 percent of its sales in North America, gained 6.5 percent in Hong Kong.

Zhaojin Mining Industry Co., which gets 89 percent of its revenue from gold mining, surged 14 percent in Hong Kong after the price of the precious metal climbed to a six-month high.

Daewoo Securities Co. paced gains among financial firms, jumping 15 percent in Seoul.