Most Asian Stocks Rise as Japan’s Carmakers Gain - Bloomberg

Asian stocks rose as Japanese exporters gained, offsetting declines by commodity producers on lower oil and metal prices.

Toyota Motor Corp. (7203), the world’s biggest carmaker, climbed 0.8 percent, while Canon Inc., the world’s largest maker of cameras, increased 1 percent. BHP Billiton Ltd. (BHP), the world’s No. 1 mining company, dropped 1.6 percent in Sydney. Mitsubishi Corp., Japan’s largest commodities trader, lost 1.1 percent in Tokyo. Kansai Electric Power Co. led power generators lower in Japan after the Yomiuri newspaper reported other utilities may be asked to contribute in compensating victims of the accident at Tokyo Electric Power Co.’s Fukushima Dai-Ichi nuclear plant.

The MSCI Asia Pacific Index was little changed at 134.85, the lowest level since March 30 as of 9:30 a.m. in Tokyo.

About three stocks gained for every two that fell on the MSCI Asia-Pacific index. The gauge has risen for three straight weeks as Japanese companies resumed production after last month’s earthquake, and as an improving U.S. economy bolstered optimism the global recovery can be sustained.

Japan’s Nikkei 225 (NKY) Stock Average gained 0.4 percent, the first advance in three days. Australia’s S&P/ASX 200 Index was little changed and New Zealand’s NZX 50 Index slipped 0.2 percent. South Korea’s Kospi index added 0.2 percent.

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