Asian stocks rose for the first time in four days, led by companies reliant on overseas sales, after U.S. service industries returned to growth following 11 months of contraction.
In Tokyo, the Nikkei 225 inched up 17.31 points, or 0.2%, to 9,691.80.
In Hong Kong, the Hang Seng index leaped 382.46 points, or 1.9%, to 20.811.53.
Shanghai markets had the day off.
Mazda Motor Corp., Japan’s number-four carmaker, rose 7.6% in Tokyo after narrowing a loss forecast and as a private report on services, which account for almost 90% of the U.S. economy, fueled optimism growth will pick up.
Jiangxi Copper Co. climbed 4.1% in Hong Kong after commodity prices gained. Sumitomo Mitsui Financial Group Inc. added 3.6% after Japan’s financial services minister said lenders won’t have to boost provisions for bad loans should borrowers delay repayments.
In Hong Kong, Alibaba.com Ltd., operator of China’s biggest trading Web site, surged 5.6% after Deutsche Bank AG upgraded the stock.
In Singapore, CapitaLand Ltd. gained 2.2% after announcing plans to list a retail subsidiary.
DeNA Co., the operator of auction and shopping Web sites, surged 13% in Tokyo on plans to form an alliance with a U.S. iPhone application developer.
Australia’s gauge pared earlier gains after the nation’s central bank unexpectedly raised its benchmark interest rate from a 49-year low amid signs the economy is strengthening.
Nissan Motor Co., which got 34% of sales from North America last year, gained 3.7% in Tokyo. James Hardie Industries NV, the biggest seller of home siding in the U.S., advanced 3.1% in Sydney.
Li & Fung Ltd., a Hong Kong trading company that sells goods to Wal-Mart Stores Inc. and Target Corp., climbed 3.4%.
BHP Billiton Ltd., the world’s biggest mining company and Australia’s largest oil producer, rose 0.9%. Rio Tinto Ltd., the world’s number-three mining company, added 1.6%.
In Tokyo, Mitsubishi UFJ Financial Group Inc., Japan’s largest listed bank, gained 4.4% after the comments from Financial Services Minister Shizuka Kamei.
Lenders won’t have to classify loans as non-performing under a plan to allow small businesses to postpone repayments, the minister said in an interview yesterday. That means lenders won’t be forced to boost provisions when borrowers postpone repayments of interest or principal, he said.
Nitto Denko Corp. jumped 5.5% in Tokyo after the Nikkei newspaper reported the chemical product maker’s operating profit may beat forecasts. Nitto Denko said it’s not the source of the report and that it plans to revise its annual earnings outlook on Oct. 30.
Elsewhere:
Taiwan’s Taiex index gained 98.07 points, or 1.3%, to 7,536.05
Singapore’s Straits Times index picked up 28.16 points, or 1.1%, to 2,611.89
In Korea, the Kospi index fell 8.46 points to 1,598.44
New Zealand’s NZX 50 Index regained 12.83 points, or 0.4%, to 3,151.55
Australia’s S&P/ASX 200 finished 18.30 points, or 0.4%, higher at 4,591.60.
