Asian stocks rose, led by automakers and financial companies, as a government report showed confidence among Japanese manufacturers improved this quarter and on speculation Chinese banks will boost lending.
Japan's Nikkei 225 index tacked on 40.01 points, or 0.4%, to end the week’s first session at 9,826.27, led by Sapporo Holdings Ltd., the country’s fourth-largest beermaker, which rallied 18% after Credit Suisse Group AG raised its recommendation.
In Hong Kong, the Hang Seng Index picked up 138.62 points, or 0.8%, to 18.059.55.
Nissan Motor Co. climbed 5.6% in Tokyo after Nikkei English News reported the company will invest in a U.S. electric car plant. Kansai Electric Power Co. gained 2.4% in Tokyo on optimism fuel expenses will decline after oil prices fell the most in more than two weeks.
Australia’s S&P/ASX 200 Index gained 0.5% as National Australia Bank Ltd. rose to a two-week high after agreeing to buy Aviva Plc’s Australian wealth management and life insurance business.
Sentiment among large Japanese manufacturers increased to minus 13.2 points compared with a record low of minus 66 three months ago, a government survey showed today. The tertiary index of money spent on services from phone calls to dining out climbed 2.2% in April from March, the Trade Ministry said.
Nissan and electronics maker NEC Corp. plan to invest as much as $1 billion U.S. in a U.S. electric car plant, Nikkei English News reported over the weekend. NEC added 3.2%. Taiwan’s HTC gained 3.9% after saying handset shipments will climb as awareness of its brand picks up in Europe and the U.S. HTC is the world’s largest maker of handsets that use Microsoft Corp.’s Windows and Google Inc.’s Android operating systems.
Utilities advanced today on expectations their fuel expenses will decline. Tokyo Electric Power Co. advanced 0.6%. Speculation lower crude prices will hurt oil producers’ earnings dragged Japan Petroleum Exploration Co. down by 2.7%. Bigger rival Inpex Corp. sank 2.4%.
Macquarie Group Ltd., Australia’s largest investment bank, erased losses to gain 1.5%, one analyst saying the company’s prospects were better than those of the nation’s four commercial banks.
CHINA
The Shanghai Composite Index added strength as Chinese Premier Wen Jiabao called for "proactive financial policies." HTC Corp. helped boost Taiwan’s stock market after the China Times said the company expects handset shipments to climb.
Industrial & Commercial Bank of China Ltd., the nation’s biggest lender, gained 3.3% in Hong Kong as the Shanghai Securities News reported new loans in June will exceed lending in May.
Bank stocks also rallied as the Shanghai Securities News reported new loans in June will exceed lending in May. The nation had 5.83 trillion yuan of new loans in the first five months of this year, the Shanghai-based newspaper reported.
Elsewhere:
China’s Shanghai Composite Index inched ahead 2.56 points, or 0.1%, to 3,082.56
Singapore’s Straits Times Index slid 6.26 points, or 0.3%, to 2,266.92
South Korea’s Kospi index advanced 16.37 points, or 1.2%, to 1,399.71
Taiwan’s Taiex moved higher by 110.06 points, or 1.8%, to 6,341.21
New Zealand’s NZX 50 Index gained 10.64 points, or 0.4% to 2,794.91
Australia’s S&P/ASX 200 strengthened 18.60 points, or 0.5%, to 3,918.20
