Asian stocks gained, lifting the MSCI Asia Pacific Index to a one-week high, after an Intel sales forecast beat analyst estimates, Air China predicted higher profit and a brokerage upgraded China Cosco Holdings Company.
The MSCI Asia Pacific Index gained one per cent to 101.57 in Tokyo. The gauge has rallied 44 per cent from a more than five-year low on March 9.
Japan's Nikkei average was flat yesterday, giving up earlier gains made on upbeat results from Goldman Sachs and Intel after investors grew cautious ahead of more earnings in the US and Japan.
The benchmark Nikkei edged up 7.44 points to 9,269.25, after rising as much as 0.8 per cent at one stage. The broader Topix fell 0.3 percent to 866.37.
South Korea's Kospi Index climbed 2.6 per cent, while Hong Kong's Hang Seng Index added 2.1 per cent.
Samsung Electronics jum-ped 5.1 per cent in Seoul on optimism demand for computers is recovering. Air China gained 7.8 per cent in Hong Kong, while China Cosco climbed 8.6 per cent.
Tsingtao Brewery rose 2.9 per cent in Hong Kong after Citigroup recommended investors buy the stock. Rio Tinto Group rose two per cent in Sydney on higher metal prices. Technology shares accounted for 22 per cent of the MSCI Asia Pacific Index's gain. Advantest Corporation rose 1.5 per cent in Tokyo to ¥1,741 (Dh68.37). Taiwan Semiconductor Manufacturing added 2.1 per cent to NT$53.6 (Dh5.97).
PetroChina gained 1.9 per cent to HK$8.13 (Dh3.85). Fortescue Metals Group added 6.4 per cent to A$3.83 (Dh11.16). Jiangxi Copper climbed 6.4 per cent to HK$13.30 in Hong Kong.
Mizuho Financial sank four per cent to ¥190 amid plans to raise as much as ¥655 billion from selling shares. Shares of banks such as Shinsei Bank and Mitsubishi UFJ Financial Group fell on profit-taking. Shinsei Bank fell 4.5 per cent to ¥128 and MUFG dropped 2.4 per cent to ¥538.
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