Singapore: Asian stocks rose for the first time in three days after reports showed US employment and consumer sentiment improved, boosting confidence in a global economic recovery and driving commodity prices higher.
Toyota Motor, the world's biggest carmaker, rose 1.1 per cent in Tokyo. Billabong International, which is the world's biggest maker of surfwear and counts the Americas as its largest market, jumped 1.9 per cent in Sydney.
Li & Fung, the largest supplier to retailers including Wal-Mart Stores, surged to a record in Hong Kong. Jiangxi Copper, China's biggest producer of the metal, climbed 1.3 per cent.
China stocks rose for a second day after US reports showed employment and consumer sentiment improved, boosting confidence in a global economic recovery and driving commodity prices higher.
PetroChina, Zhuzhou
PetroChina and Zhuzhou Smelter Group paced gains by raw-material producers after crude oil and metal prices advanced Wednesday.
Sany Heavy Industry Co. climbed 8.2 per cent after Citic Securities Co. said the machinery industry stands to benefit from development in rural provinces. Poly Real Estate Group led builders higher as investors speculated recent losses were excessive.
"Sentiment is improving and fear of a global recession is fading," said Zhang Ling, a fund manager at Shanghai River Fund Management. "Chinese stocks will still be constrained as investors wait for clarity on next year's monetary policies."
The Shanghai Composite Index, which tracks the bigger of China's stock exchanges, added 38.33, or 1.3 per cent, to 2,898.26 at the close, adding to Wednesday's 1.1 per cent advance. The CSI 300 Index rose 1.5 per cent to 3,223.48.
"The US jobs data looks quite encouraging,"" said Khiem Do, Hong Kong-based head of multi-asset strategy at Baring Asset Management (Asia) Ltd, which oversees $10 billion (Dh36.l7 billion).
"The market has remained resilient despite risks of a worsening European debt crisis, inflation concerns in China and escalating tensions in Korea. We could see more volatile trading ahead of the year-end holidays."
The MSCI Asia Pacific Index, rose 0.2 per cent to 130.68 in Tokyo, with 10 stocks advancing for every seven that declined. The gauge has fallen 3.4 per cent from a two-year high on November 8 on speculation China will further tame inflation and concern that a debt crisis in Europe will spread.
Japan's Nikkei 225 Stock Average gained 0.5 per cent even after a government report showed export growth slowed more than forecast in October.
China's Shanghai Composite Index advanced 1.3 per cent. Hong Kong' Hang Seng Index and South Korea's Kospi Index rose 0.1 per cent. Taiwan's Taiex Index climbed 0.6 per cent.
Australia's S&P/ASX 200 Index advanced 0.2 per cent.
The statistics office said business investment rose twice as fast as economists expected in the three months through September, as miners expanded production to meet higher demand from Asia.
Most major benchmark equity indexes in the Asia-Pacific region moved less than 1 per cent. US markets were closed yesterday for the Thanksgiving holiday.
Futures on the Standard & Poor's 500 Index slipped 0.2 per cent.
