Asian stocks advanced after copper rose

Asian stocks advanced as commodity producers gained after copper rose to a record, oil rose and U.S. retail sales increased last week, adding to signs of economic recovery is underway.

Canon Inc., the world's largest manufacturer of cameras that receives about 28 percent of
sales

U.S., increased 1.9 percent in Tokyo. BHP Billiton Ltd., the world's biggest mining and Australia's largest oil and gas producer, rose 0.9 percent in Sydney. Mitsui & Co., with products as their main source of profit, gained 0.7 percent. Sanyo Electric Co., a maker of rechargeable batteries, fell 5.1 percent after his father Panasonic Corp. announced plans to bring the Company.

"The world economy is recovering moderately," said Naoki Fujiwara, who helps oversee $ 6 billion in Tokyo at Shinkin Asset Management Co. "Investors see the money is flowing into stocks and commodities, increased confidence the market. "

The MSCI Asia Pacific Index rose 0.3 percent to 135.15 as of 19:48 in Tokyo, the highest since Nov. 9. About as many stocks advanced as declined as. The indicator rose to a five-week December 14 as U.S. reports increased economic reliance on a global recovery, easing concerns that Europe's crisis of debt and China's measures to curb inflation, will affect growth.

Japan's Nikkei 225 Stock Average fell 0.2 percent, erasing gains of up to 0.2 percent after the government said it is increasingly pessimistic about exports and business confidence. The country's export growth accelerated for the first time in nine months in November, according to data released today show.

South Korea's Kospi Index, Australia's S & P / ASX 200 Index and New Zealand NZ 50 each Index advanced 0.1 percent. Taiwan's TAIEX index gained 0.4 percent, while Hong Kong's Hang Seng rose 0.2 percent. Shanghai, China Composite Index fell 0.9 percent as an increase in petrol and diesel prices sparked concern inflation will accelerate.

Recovery trend

Future over 500 of Standard & Poor's is little changed today, after Nike Inc., the world's largest maker of athletic shoes, said orders fell below analysts' estimates and the chip maker Xilinx Inc. sales forecast be reduced.

The measure rose 0.6 percent yesterday in New York at 1254.60, surpassing its closing level on September 12, 2008, the last trading day before Lehman Brothers Holdings Inc. filed the largest bankruptcy in the world.

Same-store sales at selected U.S. retailers rose 4.2 percent last week, the biggest jump this holiday season, as more consumers are finished shopping, according to a survey released yesterday retailers.

"U.S. economic indicators continue to exceed expectations and the U.S. economy is in a recovery trend," said Hiroichi Nishi, an equity manager in Tokyo at Nikko Cordial Securities Inc. "The economic recovery Globally, the surplus money and confidence in government measures are driving the prices of commodities. "

Canon, HTC

Meters companies information technology and commodity producers led the advance among 10 industry groups in the MSCI index of Asia Pacific.

Canon rose 1.9 percent to 4.265 yen. HTC Corp., the Taiwanese mobile phone that has the U.S. as its largest market, increased 4.1 percent to NT $ 914. Hyundai Motor Co., the largest automaker in South Korea, gained 2.3 percent to ₩ 181 500 in Seoul.

BHP Billiton advanced 0.9 percent to A $ 45.82 in Sydney. Mitsui & Co. rose 0.7 percent to 1,325 yen in Tokyo. Noble Group Ltd., a Hong Kong provider of agricultural and industrial products, rose 1.9 percent to S $ 2.11 in Singapore.

Crude oil for February delivery gained 45 cents to $ 89.82 a barrel in New York yesterday, the highest close since Oct. 7, 2008. The London Metal Exchange index of six metals such as copper and aluminum rose 1.8 percent yesterday, rising for a third day. Copper, rubber and cotton prices rose to unprecedented levels during the night.

Rig orders

In Singapore, Sembcorp Marine Ltd., builder of the world's second most big oil, rose 2.6 percent to S $ 5.12. The company said it received an order to build two jack-up platforms, amounting to $ 400 million, Switzerland Noble Corp., the global deepwater oil and gas driller third largest.

The MSCI Asia Pacific Index rose 12 percent this year through yesterday, compared with gains of 13 percent in the S & P 500 and 11 percent in the Stoxx Europe 600 index. Stocks in Asia benchmark were valued at 14.8 times estimated earnings on average at the end of yesterday, compared with 14.7 times for the S & P 500 and 12.4 times for the Stoxx 600.

Among declining stocks, Sanyo Electric fell 5.1 percent to 130 yen in Tokyo, its lowest close since July 28. The controlling shareholders Panasonic Corp. said it will give minority shareholders 0.115 shares for each share of Sanyo, as part of plans to withdraw its 81 percent owned subsidiaries. Panasonic fell 1.5 percent to 1,152 yen.

Luxury Homes Australia

Australia's Lend Lease Group No. 1 developer, fell 1.1 percent to $ 8.65 in Sydney after Deutsche Bank AG cut its rating to "hold" from "buy."

The market also fell after the Real Estate Institute of Australia predicted that prices for luxury homes in the country will fall next year as homes worth at least $ 1 million ($ 1 million) ready for the increased sale. Leighton Holdings Ltd., the largest construction company in Australia, fell 2 percent to $ 31.52.

Wilmar International Ltd., the world's largest palm oil trader, fell by 5.1 percent to S $ 5.62 Singapore after saying it will invest 889.2 million yuan ($ 134 million) in a Kerry Properties company (China) Ltd. and Shangri-La China Ltd.. to develop a hotel in the Liaoning province of China.

"We believe the market can take this negative ad," wrote Goldman Sachs Group Inc. analyst Patrick Tiah and Nikhil Bhandari in a note to clients today. "This seems to be a sharp departure from Wilmar core business of processing agricultural products and there may be problems in the management of lost focus."