Asian Stocks Advance for Second Day


Asian stocks rose for a second day, led by technology companies and commodity producers, after Intel Corp. forecast sales that may top projections and crude oil prices climbed to a record.

Toshiba Corp., Japan's largest chipmaker, and South Korea's Hynix Semiconductor Inc. both advanced for the first time in three days. BHP Billiton Ltd. led energy-related shares higher. Oxiana Ltd., which is aiming to become the world's second-largest zinc producer, surged the most in three weeks after boosting copper output in Australia and Laos to records.

The MSCI Asia Pacific Index added 0.9 percent to 144.11 as of 10:17 a.m. in Tokyo, extending yesterday's 0.4 percent advance. Benchmarks gained in all markets open for trading, with Japan's Nikkei 225 Stock Average climbing 1.6 percent to 13,202.92.

U.S. stocks rose yesterday, helping the Standard & Poor's 500 Index gain 0.5 percent. Financial stocks advanced after regional banks M&T Bank Corp. and Regions Financial Corp. reported better-than-forecast earnings.


TradingEconomics.com, Bloomberg
4/15/2008 6:50:24 PM