Asian stocks rose a second day after comments from Russian President Vladimir Putin signaled the Ukraine crisis won’t immediately escalate. China shares slid amid concern the country faces its first onshore corporate bond default this week.

Nikkei 225 14,897.63 +176.15 +1.20%

S&P/ASX 200 5,446.23 +46.00 +0.85%

Shanghai Composite 2,053.08 -18.39 -0.89%

Honda Motor Co., a carmaker that gets more than 80 percent of sales overseas, increased 1.3 percent.

Fujitsu Ltd. added 3.6 percent, the most in a month, after UBS AG raised its rating on the computer maker’s shares.

A Topix gauge tracking real-estate shares led gains among the measure’s subsectors for a second day.

Fuji Heavy Industries Ltd., which makes Subaru cars, slumped 1.8 percent after cutting its profit forecast.