rising Asian stocks

Asian stocks rose as raw material producers gained after China refrained from raising interest rates to cool inflation, while Australia's biggest banks advanced on speculation that will benefit from increased competition.

CNOOC Ltd., the largest oil producer offshore China, rose 1.4 percent in Hong Kong, while crude oil futures rose. Rio Tinto Group, the world's third largest miner, rose 0.5 percent after copper futures rose to a record. Commonwealth Bank of Australia, the nation's No. 1 lender by market value, rose 1.2 percent after Treasury Wayne Swan proposals to strengthen credit unions to encourage competition in banking. Samsung Electronics Co., the world's No. 1 manufacturer of televisions and flat panel displays, rose 1.2 percent in Seoul after U.S. the growing confidence of consumers.

The MSCI Asia Pacific Index rose 0.5 percent to 133.72 as of 19:21 in Tokyo, with about seven people to earn for every three that declined. The indicator fell 0.3 percent last week as concern grew that China's central bank may raise interest rates. The bank instead of increased requirements of lenders reserve ratio.

"The government seems to be using the reserve requirement at the time as an effective tool," said Hugh Simon, co-manager of the Dreyfus Greater China Fund, in an interview On Television. "They have to have some relief on inflation. The market is not expensive."

Regional Benchmarks

Japan's Nikkei 225 Stock Average rose 0.8 percent and Taiwan's TAIEX index rose 0.2 percent. Australia S & P / ASX 200 gained 0.2 percent. Shanghai, China Composite Index rose 2.9 percent. Hong Kong Hang Seng Index advanced 0.7 percent.

While China's inflation accelerated at its fastest pace in 28 months in November, building the case for Prime Minister Wen Jiabao, to raise interest rates, instead of China ordered lenders to park more money in the central bank to counter the threat of inflation.

central bank's lack of action "is pretty good news:" Zhen, who helps manage $ 301,000,000 as general manager of Shanghai Huili Asset Management, said in an interview on 11 December. "The central bank will be very cautious about interest rates."

raw material producers gained after crude oil recovered and the price of copper reached a record high.

CNOOC rose 1.4 percent to $ 18.34 in Hong Kong in Hong Kong. Jiangxi Copper rose 3.3 percent to HK $ 25.10. River, which receives about 24 percent of their revenue from China, rose 0.5 percent to $ 87.77.

Copper, Crude Oil

Copper for delivery in three months on the London Metal Exchange rose as much as 1.8 percent to $ 9,150 a metric ton. It broke the previous record of $ 9,091, which was created on 9 December. Crude oil for January delivery rose as much as 0.9 percent to $ 88.56 a barrel in electronic trading on the New York Mercantile Exchange.

Nippon Steel Corp. rose 2.7 percent to 301 yen in Tokyo, while JFE Holdings gained 3.3 percent to 2.854 yen. Both steel makers had raised its stock recommendation to "overweight" from "neutral" from JPMorgan.

Consumer prices in China rose more than expected 5.1 percent in November from the previous year, statistics showed a report in Beijing on 11 December. the producer price inflation was 6.1 percent, up from one of 28 economists surveyed by us had expected. bank reserve requirements increased from 50 basis points from December 20, the People's Bank of China said on its website on 10 December.

Consumer Confidence

China's decision not to increase interest rates will benefit the people, Shanghai Huili is Zhen said. "Big" in China, banks will be the "primary beneficiaries" of the shortage of liquidity and higher interest rates this year and in 2011, Deutsche Bank AG, said.

Future over 500 of Standard & Poor's have changed little today. In New York, the index rose 0.6 percent to 1240.40 on 10 December after General Electric Co. raised its dividend, and reports on consumer confidence and the trade deficit exceeded forecasts.

Confidence among U.S. consumers increased more than expected in December to the highest level in six months at the same time, Americans began to increase holiday spending. The index of Thomson Reuters / University of Michigan preliminary consumer sentiment rose to 74.2 from 71.6 in late November. Economists expected a December reading of 72.5, according to the median estimate in a survey.

Australian banks

Samsung, which gets about 22 percent of U.S. sales, rose 1.2 percent to 930,000 won. Techtronic Industries Co., maker of Hoover vacuum cleaners and Ryobi power tools, rose 3.1 percent to HK $ 9.90. Yue Yuen Industrial Holdings Ltd., the world's largest maker of athletic shoes, increased 3.4 percent to $ 28.80 in Hong Kong.

An indicator of financial firms had the second biggest advance among 10 industry groups in the MSCI index of Asia Pacific. Australia's biggest lenders increased speculation that will emerge as winners of the Treasurer Wayne Swan measures to promote competition in banking.

Commonwealth Bank of Australia rose 1.2 percent to $ 51.20. Westpac Banking Corp. rose 1.5 percent to $ 22.90. National Australia Bank Ltd. gained 1.5 percent to $ 24.57. Australia and New Zealand Banking Group Ltd. climbed 1.1 percent to $ 24.10.

"We see this as an important victory for the big banks," said analysts led by Jarrod Martin of Credit Suisse in Sydney in a note to clients dated today. A proposal that the Australian financial services providers to issue covered bonds and increase access to funds will help the leading providers of the majority, the brokerage said.

The MSCI Asia Pacific index gained 10 percent this year through Dec. 10, compared with gains of 11 percent per 500 Standard & Poor's and 8.8 percent of the Stoxx Europe 600 Index. Shares in Asia's benchmark is valued at 14.7 times estimated earnings on average, compared with 14.5 times for the S & P 500 and 12.3 times for the Stoxx 600.