Asian Stocks Rise as U.S. Housing, Earnings Boost Confidence; BHP Advances - Bloomberg

Asian stocks rose for the first time in four days as U.S. housing starts gained and earnings beat estimates at companies including Johnson & Johnson, signaling the world’s biggest economy is recovering.

Advantest, Japan’s largest maker of chip-testing equipment, gained 1.7 percent after Intel Corp. (INTC) forecast quarterly sales that may top estimates. BHP Billiton Ltd. (BHP), the world’s biggest mining company, gained 0.9 percent in Sydney after metal and oil prices rose. Samsung Electronics Co. gained 3 percent in Seoul after agreeing to sell its computer hard-disk drive business. LG Chem Ltd. (051910), South Korea’s biggest chemicals maker, jumped 6 percent after posting a 27 percent gain in first-quarter profit.

The MSCI Asia Pacific Index advanced 0.6 percent to 135.04 at 9:26 a.m. in Tokyo, with about seven shares gaining for each that fell on the 1,023-member gauge. The measure fell 0.5 percent last week, reversing three straight weeks of gains.

“You’re seeing signs the U.S. and Europe are still on track for recovery,” said Hiroichi Nishi, an equities manager in Tokyo at SMBC Nikko Securities Inc. “That’s helped to ease nerves.”

Japan’s Nikkei 225 (NKY) Stock Average advanced 1.3 percent. Australia’s S&P/ASX 200 Index climbed 0.7 percent and New Zealand’s NZX 50 Index increased 0.5 percent. South Korea’s Kospi index rose 1.2 percent.

To contact the reporters on this story: Anna Kitanaka in Tokyo