Tokyo or Hong Kong Stock Exchange

Bloomberg

Asian stocks rose, with the regional benchmark index headed for the longest winning streak in two months, on speculation China and the U.S. will take more measures to spur growth in the world’s two biggest economies, according to Bloomberg report.

Electronics maker Samsung Electronics Co. (005930), which gets 48 percent of its revenue in China and America, rose 2.5 percent in Seoul. Fanuc Corp., the world’s biggest maker of industrial robots, gained 1.9 percent after Japan’s machinery orders increased more than estimated in July. China Eastern Airlines Corp., the nation’s second-largest carrier by passenger numbers, jumped 3.9 percent in Hong Kong after announcing plans to raise $570 million.

The MSCI Asia Pacific Index rose 1 percent to 120.47   in Tokyo, headed for a five-day advance, the longest winning streak since July. About four stocks increased for each that fell. Stocks have gained since the European Central Bank announced an unlimited bond-buying program last week to quell the region’s debt crisis.

“If, between the Federal Reserve, the European Central Bank and People’s Bank of China, we start to see some moderate easing, then definitely one of the asset classes that will benefit is equity,” said David Gaud, a senior portfolio manager at Edmond de Rothschild Asset Management in Hong Kong, which oversees 14 billion euros ($18 billion) in equities and convertible bonds. “In China, we should be able to see a bit more easing in the coming months. They’ve started already and there’s more room for improvement.”

The MSCI Asia Pacific Index gained 1.8 percent this quarter through Tuesday as expectations of further stimulus measures overshadowed signs of a global economic slowdown. The Asian benchmark traded at 12.4 times estimated earnings, compared with 13.9 times for the Standard & Poor’s 500 Index (SPXL1) and 12 times for the Stoxx Europe 600 Index.

Japan’s Nikkei 225 Stock Average rose 1.3 percent. South Korea’s Kospi Index (KOSPI) added 1.5 percent as the government reported the jobless rate was unchanged in August. Australia’s S&P/ASX 200 advanced 0.7 percent and New Zealand’s NZX 50 Index increased 1.1 percent.

The Shanghai Composite Index slid 0.4 percent, while Hong Kong’s Hang Seng Index advanced 0.8 percent. Taiwan’s Taiex Index (TWSE) gained 0.9 percent and Singapore’s Straits Times Index added 0.2 percent.

Futures on the Standard & Poor’s 500 Index gained 0.1 percent today. The index rose 0.3 percent in New York yesterday before the Federal Open Market Committee starts a two-day meeting today to discuss additional measures to stimulate the U.S. economy. Fed Chairman Ben S. Bernanke said on Aug. 31 he wouldn’t rule out steps to lower an unemployment rate he described as a “grave concern.”

Exporters to the U.S. rose. Samsung added 2.5 percent to 1.287 million won in Seoul. Nissan Motor Co. (7201), Japan’s second- largest carmaker by revenue that gets 32 percent of its sales in North America, rose 0.9 percent to 748 yen in Tokyo.
The MSCI Asia Pacific measure reversed losses yesterday as the relative value of Japanese shares in the index rose with the yen’s advance. The yen reached 77.70 per dollar yesterday, the highest level since June 1.