Asian stocks rose in CFD’s Trading

 

Asian stocks rose in CFD's Trading, driving the MSCI Asia Pacific Index to the highest level in more than four months, as Taiwanese export orders and U.S. homebuilder Lennar Corp.’s earnings beat estimates.

Powerchip Technology Corp., which makes memory chips, surged 5.4 percent in Taipei, while James Hardie Industries SE, the biggest seller of home siding in the U.S., advanced 2.9 percent in Sydney. Canon Inc., a Japanese maker of consumer electronics that gets more than 80 percent of its sales abroad, gained 2.6 percent. Sun Hung Kai Properties Ltd., the world’s largest developer by market value, gained 0.7 percent in Hong Kong after reporting higher profit.

The MSCI Asia Pacific Index gained 0.3 percent to 125.06 as of 11:45 a.m. in Tokyo, heading for its highest close since April 30. More than two stocks advanced for each one that fell. The gauge has jumped 7.3 percent this month as U.S. and Chinese economic reports buoyed confidence global growth will strengthen.

The Nikkei 225 Stock Average rose 0.4 percent in Japan, where trading resumed after a holiday yesterday. Hong Kong’s Hang Seng Index and China’s Shanghai Composite Index gained 0.1 percent. New Zealand’s NZX 50 Index advanced 0.9 percent.

Futures on the Standard & Poor’s 500 Index in the U.S. fell 0.2 percent. The gauge climbed 1.5 percent to a four-month high yesterday after Lennar’s profit and International Business Machines Corp., the world’s largest provider of computer services, announced a $1.7 billion takeover.